US-India Trade Tensions Escalate with High Tariffs

AAP MP Raghav Chadha critiques the US-imposed 26% tariffs on India, highlighting the one-sided trade relationship despite India's concessions. The Union Government plans to assess the tariffs' impacts while the US emphasizes reciprocity in trade under President Trump's new policy.

The escalating trade tensions between the US and India took a dramatic turn as AAP MP Raghav Chadha critiqued the US administration's decision to impose a substantial 26% reciprocal tariff on India.

Chadha pointedly remarked that despite India's efforts to nurture a robust trade relationship with the US, including the removal of the 'Google tax' aimed at favoring American companies, the response has been disheartening.

Union Minister of State for Finance, Pankaj Chaudhary, emphasized that India will carefully review the tariff's impacts before deciding on its course of action.

Meanwhile, President Trump reaffirmed his commitment to the 'America First' trade policy, introducing widespread tariffs aiming for fairness and reciprocity. Alongside India, several other major countries, including China, the European Union, and Vietnam, face varied tariffs on specific goods.

Experts suggest India's relatively lower tariff rates compared to some countries could offer an opportunity for competitive export dynamics.

(With inputs from agencies.)