50% Tariff to Take Effect, India Seeks Favor from Trump
It seems that India's efforts in recent times have not worked.
According to the Indian media "Economic Times", on the 25th, the U.S. Department of Homeland Security formally notified India that the 25% "penalty tariff" imposed by Trump due to India's purchase of Russian oil will take effect at midnight on August 27, U.S. Eastern Time.
If it is combined with another 25% additional tariff that India is already facing, after August 27, the total tariff rate imposed by Trump on India will reach 50%.
Although India has repeatedly expressed protests since Trump announced the tariff increase at the end of July, the facts over the past month have shown that India's dissatisfaction has had no effect.
British Broadcasting Corporation pointed out that even if the tariff increased by Trump is only 25%, it is enough to hit the competitiveness of Indian goods, and a 50% tariff is equivalent to announcing a ban on Indian goods entering the U.S. market.
According to a report by Bloomberg on the 25th, after seeing Trump's strong protest against India remain unmoved, the Modi government now has no choice but to adopt a "soft confrontation" approach, hiring a U.S. lobbying company closely related to Trump, trying to plead for India - however, whether this move will work remains to be seen.
As for the current difficulties India is facing, it's essentially the backlash after blowing one's own horn: before the May 7 India-Pakistan air battle, India always had a very high "anti-China" value in the Western group, even though they knew India was selling Russian oil, the West had to tolerate it.
But the May 7 India-Pakistan air battle tore off all of India's disguises, especially letting Trump realize that the seemingly "strong" India was actually just "overweight" - now that is the case, Trump naturally enjoys taking advantage of the opportunity to charge some money.
Original article: www.toutiao.com/article/1841490224546883/
Statement: This article represents the views of the author.