Trump doubles tariffs on India to 50%: Delhi slams it as unfair, unjustified

Ramping up pressure ahead of the arrival in India of US trade negotiators on August 25, President Donald Trump Wednesday doubled the tariffs on India to 50 per cent. However, he opened a 21-day window before the additional tariff of 25 per cent kicks in.

- BY S VENKAT NARAYAN

Prime Minister Narendra Modi on Thursday asserted that India will not compromise on the interests of its farmers and fishermen, regardless of the personal cost.

"For us, the interests of our farmers are the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fisherfolk.

"I know I will have to pay a huge price, but I am ready for it," he declared during his address at the M.S. Swaminathan Centenary International Conference in New Delhi.

External Affairs Ministry spokesman Randhir Jaiswal said: "...our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India...India will take all actions necessary to protect its national interests."

A White House statement said the US will impose "additional 25 per cent ad valorem duty" above the 25 per cent reciprocal tariffs announced on August 1 to "deal with the national emergency stemming from Russia's actions in Ukraine."

This tariff is deemed necessary and appropriate due to India's "direct or indirect import of Russian Federation oil," which the President judges will more effectively address the national emergency, the executive order said.

The additional tariff dramatically raises pressure on India as most of its competitors such as Vietnam, Bangladesh and now China are at lower tariffs.