Priyanka Tiwari
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India tariff cut: There is update regarding trade relations of America and India. Trump said, “India is now ready to make an enormous cut on the tariff it takes on American goods.” He further stated, before, “India used to charge a heavy duty on products exported from the United States of America, but now it will be lowered.” Yet, there has been no formal communication coming from Indian authorities confirming or denying this assertion.
As a matter of fact, Trump has
proclaimed massive outrage towards the tariff imposed by Indian authorities over American goods and services. He stated America loses a great deal because India charges an abnormal rate of over a hundred percent on some goods. “Trump said,” to put it bluntly, Indian authorities charge us such abnormal rates; now due to someone exposing this behavior of theirs, they are willing to cut it down.Preparations are being made to impose tariffs on Russia as well.
In addition to the above, Trump has also hinted of hitting Russia hard apart from India. He stated that America is going to impose a tariff on Russia. This will be done until Russia and Ukraine comes to a peaceful settlement. Trump termed the Russia Ukraine war as a third world war and argued that it must be solved as quickly as possible.
Trump ordered impeachment of the American president recently and this all happened while the war was still ongoing.
Lutnick, US Commerce Difrector, made an urgent request to India concerning their agricultural investment. He asked India to decrease the restrictions on foreign agricultural products with the hope that trade collaboration would improve. The US has long been requesting India to grant greater market access to their dried fruits, fresh fruits, and chicken meat.
America's decision to put a tax on imported goods for the benefit of the US economy is a deliberate attempt to shift the balance of the trade for US's favor. Other nations that are currently bearing the weight of President Trumps tax trade crisis are true markers of America becoming a business empire. Furthermore, the statement made previously by the President is supporting a lot of speculation about whether a decision will be made about Canada’s wood tariff in the near future, although still remains undetermined. Marks that Trump is still trying to exploit the economy for its wealth was showed. He tried to get face value as the US economy was bashed by them for long time on the economic and business ground.
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