India, Trump and 25 percent tariff
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By Rishika Sadam HYDERABAD, India/GUAYAQUIL, Ecuador (Reuters) -On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States.
U.S. President Donald Trump has announced additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%
US economist Jeffrey Sachs has doubled down on his criticism of the Donald Trump administration's move to impose 50 per cent punitive tariffs on India, calling the American President the great unifier of the BRICS.
India's monetary policy committee members flagged evolving risks from global trade tensions and tariffs as a key drag on growth but said the economy remains resilient with the inflation outlook benign,
India on Wednesday test-fired an intermediate-range ballistic missile capable of carrying multiple nuclear warheads, a government statement said, in an apparent show of strength ahead of a threatened US tariff increase.
The Kotak Mahindra group founder called for “direct fiscal support” from the government to “turbocharge” small businesses in manufacturing, research and technology.
The U.S. in July imposed a punitive 93.5% tariff on import of graphite anode materials from China, creating an opportunity for India's Epsilon to break Beijing's monopoly on supplies of the key battery component.
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