US President Donald Trump who took credit for ‘mediating’ the India-Pakistan ceasefire, has been visibly leaning more and more towards Pakistan, while at the same time, adopting a tough stance against New Delhi, since ceasefire was announced earlier this month. In a recent interview, Trump showered praises on Pakistan, and described Pakistanis as “smart people” who make “many ‘great things”.
Trump’s tough stance on trade with India
Trump’s comments come amidst his threats of imposing 29% tariffs on Pakistani exports, while his stance towards India on trade has also been equally tough, if not more.
The US President has described India as country with the highest tax in the world, and threatened to impose reciprocal tariffs on Indian goods, which could potentially make them sitting ducks in the American market. Currently, Trump has temporarily paused the 27% tariffs he imposed in Indian exports in early April, while claiming that New Delhi has offered to remove all taxes on American goods.
“Do you know that they are ready to reduce their 100% tax for America? It will happen soon. I am in no hurry,” Trump claimed. However, Trump’s claim has been refuted by India’s Foreign Minister S. Jaishankar, who stressed that trade negotiations are “complex” and any agreement should be a mutually beneficial one.
Used trade to broke India-Pakistan ceasefire, Trump claims
Trade talks between India and US are currently stalled due to recent India-Pakistan tensions, among other reasons, even as Trump’s ‘America First’ policy is raising concerns in the Indian market, which is bracing for a slowdown.
Meanwhile, Donald Trump has claimed that Pakistan want to build trade ties with the US, ignoring the fact that the South Asian country already exports good worth more than $5 billion to the US, and imports American products worth around $2.1 billion.
Trump also claimed that he used trade threat as a tool to broker the India-Pakistan ceasefire, and prevented a nuclear war in the region.
“It was going to be a nuclear war, I think, or close,” Trump said, adding he forced the ceasefire using trade and economics as a bargaining chip. “I am using trade to settle scores… and I am using it to establish peace.” he claimed.
Trump tariffs raise concerns in India
Donald Trump is poised to reset his reciprocal tariffs with several countries, including India, in the coming weeks, triggering concerns in Indian markets. Economic and geopolitical experts have criticised Trump’s ‘America First’ policy, which they say benefits the US’ strategic rivals, while harming democratic allies like India.
India has agreed to reduce import tariffs on certain US goods, including alcoholic beverages and heavy motorcycles, but no major trade deal has been reached between the two countries.
from Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/ZlKVJyU