Donald Trump : Trump's Tariff 'Game Plan'; A Warning Bell for India Again?
The trade policies of US President Donald Trump have once again created an atmosphere of uncertainty in the global market. His stance of “Tariffs on those who do not listen to us” has been clear from the beginning. A decision was made to impose a large tariff on India for purchasing crude oil from Russia, which directly impacted bilateral trade. It was discussed that the US imposed a tariff of up to 50% on India, claiming that India purchases about 21% of its crude oil from Russia. However, within a few days, this rate was reduced to 18%. Meanwhile, it is said that the India-US trade agreement is in its final stages, and an official announcement is awaited.
In this context, the statement made by US Congressman Brad Sherman has come into discussion. According to him, the Trump administration is looking for a different reason to impose a large tariff on India again. “India is being targeted,” he alleged. He also clarified that Trump needs to change his policy. The impact of increasing tariffs is not limited to imports and exports alone. It also affects investment, inflation, the stock market, and industries. It can have direct effects especially on the pharmaceutical, IT, automobile, and steel sectors. If the tariff is increased again after the India-US trade agreement is announced, the situation could become more complicated.
Global politics and energy policies have a significant impact on trade. The energy supply chain has changed after the Russia-Ukraine conflict. India has tried to stabilize its economy by purchasing crude oil at low prices. However, due to pressure from the United States, India has to maintain a balance. Although the tariff has decreased at present, the world is watching Trump's next decisions. Whether this could be a 'warning bell' for India will be answered in the coming weeks. The future of India-US relations will depend on the official announcement of the trade agreement and the next role of the United States.