U.S. Tariffs on Indian Oil Imports from Russia
Congress MP Shashi Tharoor condemned the U.S. government's move to levy 50% tariffs on India for importing oil from Russia. He asked the Indian government to explore similar retaliatory tariffs on imports from the U.S.
Tharoor's Remarks Outside Parliament
Addressing the media on Thursday outside Parliament, Tharoor explained that the U.S. tariffs would harm India's exports, which now are approximately $90 billion. He added that foreign customers might slow down their purchase of Indian commodities since they will incur additional expenses from the tariffs.
Unequal Treatment Compared to China
Tharoor indicated that India imports less oil from Russia than China, yet the U.S. has provided China with a 90-day reprieve from the tariffs. However, India has been given only three weeks' exemption, which he termed unjust.
Call for Reciprocal Tariffs
He called for the Central Government to charge a 50% tariff on American goods so that India does not get treated unjustly or threatened by any nation.
Timeline of U.S. Tariffs on India
The U.S., under President Trump, had earlier imposed 25% tariffs, which came into effect on Thursday. The additional 25% tariffs, raising the total to 50%, will take effect on the 27th of this month.
Impact on Indian Industries
These tariffs are expected to directly impact the Indian textile, aqua, and leather industries.
Prime Minister Modi’s Response
Reacting to the incident, Prime Minister Narendra Modi said that the government would not budge on the interests of Indian farmers. He further said that he himself is ready to pay any price to safeguard farmers' interests.
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