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The trade war has intensified after the tariff announcement of US President Donald Trump. Canada has announced a 25% tariff on American cars on Thursday. French President Emmanuel Macron has stopped all its investments in the US. Macron said, Trump will have to withdraw 20% of tariffs from the European Union.
Trump has imposed 27% tariff on India. The new tariff rates will be applicable from April 9. From April 5 to April 8, 10% baseline tariffs will be imposed on India’s products. Thiland is 37% on Taiwan, 32% on Taiwan and 24% tariff on Japan.
Baseline 10% tariff on Saudi Arabia, Egypt, Australia-New Zealand announced. From Thursday, the US also started recovery of 25% tariff on imported cars and car parts.
Half tariffs from China on India … 2 lakh crores profit in pharma and electronics
Trump tariff can also prove to be an opportunity in disaster for India. India has been imposed on 27% tariffs while China has been imposed 34%. China is applied two weeks in advance two weeks ago, ie China is now 54% total trump tariff, ie India doubled from India.
The Indian Pharma sector is relieved from tariffs. Whereas the Electronics sector of India can also benefit from the high tariff on China. Both these sectors have a share of about $ 24 billion (Rs 2 lakh crore) in Indian exports to the US. This is a direct advantage for India.
Also, the central government says that these tariffs are not ‘jerk’ for India, but ‘mixbags’. The solution of the tariff can be a trade deal of about 500 billion dollars (Rs 42.75 lakh crore) between India and America. The first round of talks have been held on this. The deal will be final by September.
In February, at the time of Prime Minister Modi’s visit to America, the tariff was reported to talk on the tariff on the bilateral trade agreement (BTA). The last round of the first round took place on 28 March.
Vietnam in textile industry, more tariff on Bangladesh for India
In the Garment-Textile sector, India’s Priority Bangladesh has 37% tariff on Sri Lanka, 44% on Vietnam. Garment infrastructure in India is better than these countries. Indian garment sector with $ 3 billion exports can get new supply orders from the US.
James and jewelery (gem-jewelery) sector are most likely to be affected. Currently, there is zero on loose diamond and up to 7% on jewelery. Now it will be 27%. Currently, about 30% of the need of America is imported from India. It costs around $ 11 billion.
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