Tokyo’s trade negotiator urged US officials to ensure a 15% levy on imports isn’t added to existing higher tariffs. Washington would amend order & refund excess duties, he said.
After Trump imposed extra 25% tariffs on India for buying Russian oil, Modi said the country won't compromise on the interests of farmers, fishermen & dairy farmers.
The decision was announced by RBI Governor Sanjay Malhotra Wednesday during the Monetary Policy Committee meet, after reviewing the latest economic and financial conditions.
This came after Trump accused India of buying 'massive amounts' of Russian oil and said he would 'substantially raise the tariff paid by India to the USA'.
Trade minister Don Farrell added that Trump's higher import duties on other countries going up to 41% has made Australian products more competitive in the American Market.
Bangladesh Chief Advisor Muhammad Yunus congratulated the country's tariff negotiators on 'securing a landmark trade deal' with the US by bringing tariff rates down from 35% to 20%.
Trump, Wednesday, slammed India’s trade barriers, oil and arms deals with Russia, imposing 25 percent tariffs and an added 'penalty' over energy imports from Moscow.
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Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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