india will not give to trump tarriff 50 percent

Indian Prime Minister Narendra Modi vowed to stand firm two days before Donald Trump's steep 50% tariffs have kicked in on Wednesday, threatening more than half of India’s exports to its largest market. Modi earlier this month also urged domestic self-reliance and made a promise to cut taxes. Indian media warn that exports could fall 20–30% from September and nearly 55% of India’s $87 billion in shipments to the US could take the bite. Labor-intensive sectors such as textiles, jewelry, leather goods, food and automobiles will be hardest hit, while pharmaceuticals and electronics are exempt. But Dawar, whose company supplies global fashion brands including Zara, said companies are turning to new markets. Talks on a bilateral trade deal have stalled after five rounds, and a planned sixth round was canceled this week. The new 25% tariff, adding on the first 25% tariff and described as “secondary tariffs”, are aimed at countries buying Russian oil, but India is the only nation so far to face them.











 

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