The US President, has announced 25% tariffs on Wednesday to the products of the. “Over the years, we have made relatively few businesses with them, because their tariffs are too high, among the highest in the world,” said the Republican in Truth, his social network. Trump has advanced that, coupled with rates on Indian exports, he plans to impose an economic penalty to the Asian country as of Friday, although he has not given more details.
In addition to the alleged barriers to American products in the Indian market, the president has justified the commercial coup against New Delhi for the importation of Russia’s armament and energy, despite the sanctions imposed on Moscow. “They have always bought the majority of their military team from Russia and are the main buyers of Russian energy, together with China, at a time when everyone wants,” he added. Trump gave a term of “10 or 12 days” to Kremlin to end his invasion in Ukrainian territory.
On the eve, in statements to the media before addressing the plane that was going to take it back to the United States after, Trump had said that tariffs to Indian products would be in the range of 25% to 30%, in case both countries did not reach a commercial agreement. “India has been a good friend, but has basically applied more tariffs than almost any other country,” he said.
The announcement complicates the negotiations that both countries have carried out in recent months to reach a commercial agreement. After five rounds of conversations without reaching the pact, American negotiators have claimed that barriers to import agricultural and dairy products in the Asian country persist.
Washington has demanded better conditions for exporting ethanol, alcoholic beverages, cars, pharmaceutical products and medical equipment. He has also requested changes in Indian legislation on patents and digital trade. Despite the lack of advances, Indian negotiators had been confident that an agreement could be reached.
India, the fifth world economy, exported more than 87,000 million dollars last year (just under 76,000 million euros, at the current exchange rate) in products to the United States, according to Reuters. The North American country has a commercial deficit of about 45.7 billion dollars with India, a point that Trump stressed in another message posted on his social networks. The Narendra Modi government has not spoken about the announcement or if it will adopt measures in retaliation.
Last Sunday, the United States and the European Union reached a commercial agreement, in which Brussels accepted the imposition of, while US products will not be subject to any rate in Europe. Japan, on the other hand, negotiated a 15%reciprocal tax, while other governments ultimate negotiations with Washington to mitigate the impact on their economies.
