Trump tariffs: US President makes BIG statement on India-US trade deal, says no talks with India until...
Trump Tariffs: US President Donald Trump has ruled out any negotiations to work out an India-US trade deal, days after he signed an executive order imposing 50 percent tariffs on Indian imports. Trump said there will be no trade talks with India until the dispute over tariffs is resolved. What did Trump say?
'No, not until we get it resolved,' Trump replied when asked by news agency ANI in the Oval Office whether he expected talks to resume in view of the new 50% tariffs.
Trump's statement comes two days after he signed an executive order imposing an additional 25 percent tariffs on Indian goods, raising the total levy to 50%. The US President called the additional tariffs on India as a 'punishment' for purchasing Russian oil and weapons, as he accused New Delhi of 'funding' Moscow's war on Ukraine.
'I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent,' the order reads.
Trump's order claims that India's imports, whether direct or via intermediaries, present an 'unusual and extraordinary threat' to the United States and justify emergency economic measures. When will additional Trump tariffs come into effect?
As per US officials, the the initial 25% tariff came into effect on 7 August, while the additional levy will take effect in 21 days and apply to all Indian goods entering US ports — with exceptions for items already in transit and certain exempt categories.
The order also provides flexibility for the president to modify the measures, depending on changing geopolitical circumstances or retaliatory actions by India or other nations. PM says India's won't bend to pressure
Meanwhile, Prime Minister Narendra Modi broke his silence on the matter, stating that India will not back down in the face of economic pressure.
'For us, the interest of our farmers is our top priority,' PM Modi said. 'India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it,' Modi said in his speech at the MS Swaminathan Centenary International Conference in New Delhi.
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