US imposes 50% tariffs on Indian goods: how Delhi reacted
Kyiv • UNN
Donald Trump imposed high tariffs on Indian goods due to the country's purchase of Russian oil and weapons. India plans to lower taxes to mitigate the economic impact.
US President Donald Trump has imposed high 50% tariffs on goods from India due to the country's purchase of Russian oil and weapons. This is reported by UNN with reference to BBC.
Details
This could hit the exports and growth of the world's fifth-largest economy. Moreover, until recently, the US was India's largest trading partner.
Such a move by Trump did not go unanswered. This forced the Indian government to take emergency measures. Earlier this month, Indian Prime Minister Narendra Modi promised to cut taxes to mitigate their economic impact. He also called for the country's self-sufficiency.
We must become self-sufficient - not out of despair, but out of pride. Economic egoism is growing all over the world, and we should not sit and cry about our difficulties, we must rise above them and not let others hold us in their grip
Recall
Earlier, UNN, citing Bloomberg, reported that Indian refineries plan to reduce purchases of Russian oil to 1.4-1.6 million barrels per day.