US's additional 25% tariffs on India start tomorrow; notice issued
What's the story
The United States has officially issued a notice imposing an additional 25% tariff on Indian goods. The new tariffs will come into effect from 12:01am (EST) on August 27, as per the Department of Homeland Security's announcement. The move is in line with President Donald Trump's Executive Order 14329, which addresses threats to the US by the Russian Federation and targets India in this context.
Resilience pledge
Modi assures farmers, small entrepreneurs will be protected
As the deadline approaches, Indian Prime Minister Narendra Modi has assured that India will withstand the economic pressure. Speaking at a public rally in Ahmedabad's Nikol area, he said, "No matter how much pressure comes, we will keep increasing our strength to withstand it." He stressed his government would always protect small entrepreneurs, farmers, and livestock rearers from any harm.
Economic self-interest
Veiled dig at US tariffs
Modi also took a veiled dig at the US tariffs, saying, "Aaj duniya me arthik swarth wali rajniti (hai), sab koi apna karne me lage hain. Usse hum bhali bhanti dekh rahe hain." This translates to: "Today in this world, there is politics of economic self-interest; everyone looks out for themselves. We are witnessing this."
Trade allegations
US accuses India of profiteering from discounted Russian oil
The US has accused India of "profiteering" by buying discounted Russian oil and selling refined products. In an NBC interview on Sunday, US Vice President JD Vance said that Trump used aggressive economic leverage to make it harder for Russia to profit from its oil economy. However, External Affairs Minister S Jaishankar dismissed the allegations as unjustified and asserted India's right to act in its national interest.
Diplomatic stance
Jaishankar's response to US accusations
Responding to the US accusations, Jaishankar said if countries had a problem buying from India, they were free not to do so. He said, "That's really curious. If you have a problem buying oil or refined products from India, don't buy it." The External Affairs Minister also noted that Europe and America continue to buy from India despite their complaints about its trade practices with Russia.