Wednesday, August 13, 2025

Creating liberating content

Related News

India’s exposure to a potential disruption in Russian oil exports would be limited, even as a full embargo could create serious challenges for the global economy, according to a report

The Reserve Bank of India (RBI) is likely to maintain current interest rates during its October policy review, according to an SBI report, as inflation in August 2025 is projected

Stock market update for August 15 (AI image) Stock market holiday on Independence Day: Stock markets will be closed on Friday, August 15, 2025 in observance of the Independence Day.

IKEA India opens first store in Delhi (ANI photo) Ikea India has launched its first Delhi outlet at Pacific Mall, Tagore Garden in West Delhi. The 15,000-square-foot establishment aims to

India, which leads global urea imports, is expected to receive approximately 300,000 tons. (AI image) Big sign of easing tensions! China has relaxed restrictions on urea exports to India, signalling

Banking operations across India will be closed on August 15 for Independence Day, while several states will also see a shutdown on August 16 for Janmashtami, followed by regular Sunday

Trending News

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Russia-backed Nayara Energy looks at India’s state-run oil companies to offload petrol, diesel exports Nayara Energy has approached Indian state-run oil marketing companies (OMCs) to offload its export volumes of

US President Donald Trump on Saturday claimed that he had “heard” reports of India halting Russian oil imports, hailing it as a “good step”. “I understand that India is no

Trump Recalls Reciprocal Tariff Talks With PM Modi

Word Count: 335 | Estimated Reading Time: 2 minutes




New Delhi:

In a joint televised interview with billionaire Elon Musk, US President Donald Trump made it clear that India will not be spared from Washington’s reciprocal tariffs. In a conversation with Fox News’ Sean Hannity, President Trump reiterated his stance on global trade and existing tariff structures between the US and its partners.

“I told Prime Minister (Narendra) Modi yesterday – he was here – I said, ‘Here’s what we’re going to do: reciprocal. Whatever you charge, I’m charging,'” President Trump said, recounting his conversation with the PM. “He (PM Modi) goes, ‘No, no, I don’t like that.’ ‘No, no, whatever you charge, I’m going to charge.’ I’m doing that with every country.”

India has some of the world’s highest tariffs on certain imports from the US, particularly in the automobile sector, where duties on foreign cars can reach up to 100 per cent. Mr Musk, sitting beside President Trump, confirmed this, saying, ” It’s 100 per cent – auto imports are 100 per cent.”

President Trump responded: “Yeah, that’s peanuts. So much higher. And others too.”

He argued that such tariffs make it nearly impossible for American companies to sell in India unless they establish manufacturing plants there, which he considers “unfair” to the US economy.

Under his proposed reciprocal tariff system, the US would impose the same level of tariffs on Indian imports as India levies on American goods. “Nobody can argue with me,” President Trump insisted. “If I said 25 per cent, they’d say, ‘Oh, that’s terrible.’ I don’t say that anymore… because I say, ‘Whatever they charge, we’ll charge.’ And you know what? They stop.”

This is not the first time President Trump has clashed with India over tariffs. During his first term, he often referred to India as the “tariff king”, citing high import duties on US goods. Following Prime Minister Modi’s recent visit to Washington, both countries committed to doubling bilateral trade to $500 billion by 2030 and negotiating a bilateral trade agreement (BTA) by Autumn 2025.




Source link

Most Popular Articles