Trump frustrated with India trade talks, sees 25% tariff as remedy: White House aide
'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!'The decision comes after the failure to reach an interim trade deal, with Trump reportedly dissatisfied with the outcomes secured by his negotiators. 'What's going to happen is that India is going to cut their prices to the US in order to maintain their market share,' Hassett added. 'Then they might reconsider their practices, which have led to this higher rate. And over time, I would guess the Indian firms will be onshoring production in the US, and Indians might even open their markets more to us, so that we reconsider a future trade deal.'INDIA'S RESPONSE TO TRUMP'S 25% TARIFFIn response, India's Ministry of Commerce and Industry stated that it is assessing the impact of the US move, but emphasised that national interest remains paramount. "The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,' the ministry stated.India reiterated its commitment to working toward a 'reciprocally advantageous trade agreement,' but with Trump escalating pressure tactics, the path forward remains uncertain.- Ends
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