New Delhi, Aug 26 (IANS) The US President Donald Trump-led administration’s 50 per cent tariff bomb on India, effective from tomorrow (August 27), will throw a significant challenge for India’s exports, hurting sectors like textiles and jewellery, besides impacting the country’s economic outlook for months to come.
The Trump administration notified the 50 per cent tariff on Indian goods (25 per cent tariff and 25 per cent penalty) on Tuesday, effectively launching a trade war on India – a move that is believed will disrupt the economic might of the world’s fourth-largest economy.
The imposition of 50 per cent tariffs on Indian goods by the US, has elicited varied reactions from political parties, including the BJP, JD(U) and the Congress. While the ruling dispensation doesn’t see any tangible impact due to this, the Opposition sees it as a major embarrassment and roadblock for the country.
BJP leader and former Union Minister Mukhtar Abbas Naqvi dismissed the US tariff bomb as empty rhetoric and said that India’s excellent growth record will easily surpass it.
“The world has seen many challenges in the recent past including the Covid pandemic, slowdown, economic distress but India kept moving ahead with firm resolve,” Naqvi said.
He further stated, “It is the result of our combined effort and endeavour that despite global economies facing multiple headwinds, the Indian growth story is on a steady upswing and will continue to do so even after US tariffs.”
Neeraj Kumar, JD (U) leader said that the imposition of 25 per cent tariff by the Trump administration in an unwelcome step but added that the nation will overcome this challenge, with ease.
“The Modi government has clearly stated that India stands firm against this discriminatory and unfair imposition of tariff, and the nation is standing as one force against the US' high-handedness in terms of global trade,” he said.
The JD(U) leader further said that India plays a crucial role in the subcontinent and will continue to remain the visionary and leading force in the region.
“We have shown in the past that we will bow down to none and the latest tantrum from the Trump administration won’t have any bearing on us. We will overcome all challenges,” he said.
On the contrary, Congress spokesperson Pawan Khera mocked the Modi government for staying "helpless and miserable" under the US tariff onslaught.
He said that the nation was expecting some relief from the 50 per cent tariff bomb, but nothing happened despite the tall claims of the Modi government.
He claimed irreversible damage to the nation’s diplomacy as well as economic progress in the past 11 years of the BJP-led NDA government and said that all its lies and trickery stand exposed now.
“The small and medium scale industry is in shambles, because of the government’s faulty policies including note demonetisation and GST. Now, instead of finding ways to cushion this shock, the Prime Minister is busy making public appeal to go swadeshi,” he said in jeering tone.
--IANS
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