Aam Aadmi Party (AAP) MP Ashok Kumar Mittal on Wednesday announced an additional 25% tariff on Indian products by United States President Donald Trump, called it “irrational” and accused Washington, DC of implementing “double standards” in his trade policies.
Mittal defended India’s oil purchase from Russia and questioned the validity of American criticism.
Mittal said, “Yes, we are buying oil from Russia. Who is he to stop us? He himself is buying oil from Russia to some important metals, European countries, European countries from Russia. China is buying oil from Russia … You may not have double standards, double policies.”
Mittal said that the Indian industry is “enough” and “alternative ways to sell products”.
He said, “The US has imposed a 50% total tariff on Indian products. Of course, this will harm the Indian industry in the short term. But our entrepreneurs, our businessmen, our industrialists are quite capable, are quite strong. They will find alternative ways to sell products.”
He suggested that the current situation may open new avenues for the Indian economy.
“We can increase consumption in India, we are 1.4 billion population and we can find some more markets. Rather, it can give us opportunity. The Indian economy is increasing 6 to 8 % per year, and its impact on GDP will be maximum 0.2, which means that there is nothing according to our growth, and we will easily absorb this deficiency and find other methods.”
Following his response, US President Donald Trump on Wednesday signed an executive order, imposing 25 percent of additional tariffs on imports from India. According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as to increase other relevant trade laws, claiming that India’s import, directly or indirectly, is a “unusual and extraordinary threat” to the United States. After the order, there will be a total tariff on Indian goods.
While the initial duties become effective on August 7, the additional levy will become effective after 21 days and will be imposed on all Indian goods imported in the US, in addition to completion of goods or specific discounts already.
The executive order also allows for amendments based on changing circumstances, including other countries a potential vengeance or steps taken by Russia or India to address the national emergency. ,
Accordingly, and in accordance with the applied law, India’s articles imported into the Customs sector of the United States will be subject to the additional advertisement rate of 25 percent of the duties, “the order states.
India has called the United States step “unfair, inappropriate and unfair” to impose additional tariffs on India on its oil imports from Russia.
The Ministry of External Affairs said that New Delhi “will take all the necessary tasks to protect its national interests.”
In an official statement, Mea said, “The United States has targeted India’s oil imports from Russia in recent times. We have already clarified our position on these issues, including the fact that our imports are based on market factors and have been done with the overall purpose to ensure energy security of 1.4 billion people in India.”
The statement said, “It is so unfortunate that America should opt for additional tariffs on India for those tasks that many other countries are also taking in their national interest.” We repeat that these tasks are inappropriate, inappropriate and unfair. India will take all the action necessary to protect its national interests, “Mea Tension. (ANI)
