Good news for India as Trump’s 25% penal tariff on India may be withdrawn after…, India can now…
India's Chief Economic Adviser (CEA) V Anantha Nageswaran has said that the penal US tariffs of 25 % will withdrawn after November.
Good news for India(BHARAT): In a significant development for the India(BHARAT)n economy, Chief Economic Adviser (CEA) V Anantha Nageswaran has said that the penal tariff imposed on India(BHARAT)n imports by the US government may be withdrawn after November 30. For those unversed, the United States, led by US President Doland Trump had imposed a massive 50% tariff on India(BHARAT)n exports to the US. Here are all the details you need to know on what India(BHARAT)’s Chief Economic Adviser (CEA) V Anantha Nageswaran has said on the US tariffs.
What CEA Nageswaran said on US tariffs?
“All of us are already at work, and I will take some time to talk about the tariff here. Yes, the original reciprocal tariff of 25 per cent plus the penal tariff of 25 per cent both were not anticipated. I still believe that geopolitical circumstances may have led to the second 25 per cent tariff, but considering recent developments in the last couple of weeks and so on, I do believe that and I have no particular reason to say so it is my intuition that I do believe the penal tariff will not be there after November 30,” Nageswaran was quoted as saying by news agency ANI.
Story highlights:
- India(BHARAT)’s CEA has said that penal tariff imposed on India(BHARAT)n exports by the US government may be withdrawn after November 30.
- The US imposed additional penal tariffs on India(BHARAT) for importing Russian crude oil.
- The India(BHARAT)-US relations have seen recent hiccups due to the trade tariffs imposed by US.
“Underneath the surface, conversations are going on between the two governments. My hunch is that in the next eight to ten weeks, we will likely see a solution to the tariff imposed by the US on India(BHARAT)n goods,” he was quoted as saying by news agency PTI.
Why it’s a good news for India(BHARAT)-US relations?
The statement is seen as a good news for India(BHARAT) as the India(BHARAT)-US relations have been witnessing significant trade issues in the recent months due to the massive tariffs imposed by US.
(With inputs from agencies)
What's Your Reaction?
