PM Modi on 50% tariff: Will not compromise on farmers’ interests
New Delhi: Prime Minister Narendra Modi on Thursday gave a strong reply to the tariff imposed on India by US President Donald Trump. PM Modi said that India will not compromise on the interests of its farmers. US President Donald Trump on Wednesday announced an additional 25 percent tariff on India for oil trade with Russia. With this additional 25 percent tariff, the US has now imposed a total tariff of 50 percent on India. The US President last week announced a 25 percent tariff on goods imported from India. Along with this, he had said that he would impose a separate penalty on India for trading with Russia. After which he imposed a separate 25 percent tariff on India on Wednesday as a separate penalty for trading with Russia.
India will never compromise on the interests of the farmers and people
Prime Minister Narendra Modi, while participating in a conference held in Delhi, said that the interest of farmers is India’s top priority. PM Modi said that India will never compromise on the interests of farmers, fishermen and people associated with the dairy sector. PM Modi said in the conference, “If I have to pay a price to protect the interests of farmers, then I am ready for it.” Let us tell you that America has been demanding to enter India’s agriculture and dairy sector since the beginning of the trade talks. But India had already told America in clear words that it will not make any compromise for the agriculture and dairy sector.
Trump now preparing to impose secondary sanctions on India
US President Donald Trump is not satisfied even after imposing an additional 25 percent tariff on India. He has said that he will also impose secondary sanctions on India for doing business with Russia. Trump said that India is very close to China in terms of buying oil from Russia and it will now have to pay a 50 percent tariff along with an additional 25 percent tariff. A secondary sanction is an economic restriction imposed on a country (India) that trades with a country (Russia) that has already been subjected to primary sanctions.