What India's MEA Said About Tariff Hike by Trump Administration on Indian Goods
U.S. President Donald Trump has hiked tariffs on goods imported from India by 25 percent, making the total tariff 50 percent. India has called this decision unfair and unreasonable, stating that it will take necessary actions to safeguard its interests.
Randhir Jaiswal, spokesperson from India's Ministry of External Affairs, explained that the U.S. is targeting India's oil imports from Russia. He said that India's oil imports are based on market needs and are essential for the energy security of its 1.4 billion people. He expressed disappointment that the U.S. imposed these tariffs while other countries are also making similar decisions to protect their own interests.
Trump's executive order says that India is importing oil from Russia and therefore, goods from India will now face a 25 percent extra tax when entering the U.S. This brings the total tariffs on Indian goods to 50 percent, which is higher than those on China and Pakistan.
Trump also mentioned that he might increase tariffs on India further because he believes India has not been a good trading partner.