We should also impose 50% tariff on US goods: Shashi Tharoor on Trump’s tariff
The ongoing trade war between the United States and India has taken a new turn, with US President Donald Trump imposing a 50% tariff on Indian goods. In response, Congress MP Shashi Tharoor has called for India to retaliate by imposing similar tariffs on US goods.
Speaking to NDTV, Tharoor said, “We should also raise the tariff to 50%.” He emphasized that India currently charges 17% tariffs on US imports, and that it is only fair that the country takes a similar stance.
Tharoor’s comments come as a response to Trump’s announcement of a 50% tariff on Indian goods, worth $6.3 billion, in retaliation for India’s decision to impose tariffs on certain US goods. The US President has claimed that India’s tariffs on US goods, including Harley-Davidson motorcycles and bourbon whiskey, are unfair and hurt American businesses.
However, Tharoor has disputed this claim, stating that India’s tariffs are justified and necessary to protect its domestic industries. “India has a trade deficit of $18 billion with the US, and we are running a trade deficit of $90 billion with the US,” he said. “We cannot continue to be at the receiving end of this trade imbalance.”
Tharoor also criticized Trump’s move, calling it “unjustified and economically damaging”. He emphasized that India’s economy is highly dependent on exports, and that imposing tariffs on US goods would have a significant impact on Indian businesses and jobs.
“We should not take this lying down,” Tharoor said. “We should retaliate, and we should do it proportionately. If they are imposing a 50% tariff on us, we should impose a 50% tariff on them.”
Tharoor’s comments have been echoed by other Indian politicians and experts, who have also called for India to take a strong stance in response to Trump’s tariffs.
“This is a clear case of trade bullying,” said Raghuram Rajan, a former Reserve Bank of India governor. “India has to stand up to this kind of behavior and protect its interests.”
The tariff war between the US and India is the latest development in a broader trade conflict between the two countries. In 2019, the US imposed tariffs on Indian goods worth $1.3 billion, including steel and aluminum products, in response to India’s decision to impose tariffs on certain US goods.
India has been pushing the US to reduce its trade deficit with the country, and to provide greater market access for Indian goods and services. However, the US has been resistant to these demands, citing concerns about India’s trade practices and lack of intellectual property protection.
The tariff war has significant implications for both the US and Indian economies. The US is India’s largest trading partner, and India is the US’s ninth-largest trading partner. The two countries have a significant trade relationship, with bilateral trade worth over $100 billion.
The tariff war has also raised concerns about the impact on Indian businesses and jobs. Many Indian companies rely heavily on US imports, and the tariffs could lead to higher costs and reduced competitiveness.
In conclusion, Shashi Tharoor’s comments highlight the need for India to take a strong stance in response to Trump’s tariffs. The country cannot afford to be at the receiving end of this trade imbalance, and it is only fair that India imposes similar tariffs on US goods.
As the trade war between the US and India continues to escalate, it remains to be seen how the two countries will resolve their differences. However, one thing is clear: India will not go down without a fight.
