The high tariffs imposed by Trump are likely to reduce the consumption of Indian brand products in the US. Huge damage to Indian exports. Emergency meeting of the Prime Minister’s Cabinet on the increased tensions in trade relations and decisions to be taken to protect the country’s economic interests.
BY – RAJA PENTAPATI AP BUREAU CHIEF
(A story’ from New Delhi)
National News
Amravati August 9 (Bharat News) AP
Prime Minister Narendra Modi held an emergency cabinet meeting for the first time. The Prime Minister himself called the available ministers and called them to come to the meeting urgently.
With this, 12 ministers rushed to the Prime Minister’s Office. However, it seems that the reason for holding such an emergency cabinet meeting was the tariff bomb dropped by US President Trump.
The imposition of 25 percent duty came into effect from Thursday. This will affect the gold and diamond industries, including the handloom sector across the country. With this, Prime Minister Modi held an emergency cabinet meeting to discuss the issues.
The Prime Minister will discuss with the ministers the increased tensions in trade relations and the decisions to be taken to protect the country’s economic interests. On this occasion, the Prime Minister will also discuss the suggestions and criticisms coming from economists and the opposition.
The Prime Minister will also discuss the situations that will arise in the country if a trade war is launched against the US in the current situation, and the difficulties that will arise if it is not done favorably. Overall, this meeting has acquired great importance.
This is the doubt that many people have regarding tariffs. The US President has imposed tariffs on imports. That is, if the products of those countries that Trump has targeted, including India, end up in the US, the tariffs will apply.
That is, the traders there should pay. And what is the effect on us? It is a question of morality. However, the traders there will not pay the tariffs increased by the US. Only the traders exporting from India should pay. This will have a huge impact on the value of the goods. Moreover, the prices of goods in the US will increase.
This will reduce the number of buyers and reduce the market. For example, if Indian brand goods were available in the US for 10 rupees until yesterday, after the tariff was imposed, the price in the US will increase accordingly. As a result, the consumption of Indian products will decrease. This will reduce India’s exports. Both ways will create problems for the country affected by the tariff
Bharat News Andhra Pradesh
