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Jefferies links US’ 50 percent tariffs on Indian goods to Donald Trump’s personal pique over India denying his mediation in the India-Pakistan conflict.
Trump imposes 50 per cent tariffs on Indian goods
The steep 50 per cent tariffs imposed by the United States on Indian goods are largely a result of President Donald Trump’s “personal pique” at not being allowed to mediate in the India-Pakistan conflict, according to a recent report by American multinational investment bank and financial services company Jefferies.
US President Donald Trump has claimed several times that he helped in solving India-Pak conflict. However, these claims were never backed by Indian authorities. Now, American multinational investment bank and financial services company Jefferies claimed that US imposed tariffs on India because Trump was not allowed to mediate in the India-Pakistan conflict.
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A recent report published by Jefferies states that US President reportedly hoped to intervene following the four-day military conflict between India and Pakistan in May. However, he was not allowed to play a role.
The report further added, “tariffs are primarily the consequence of the American president’s “personal pique” that he was not allowed to play a role in seeking to end the long running acrimony between India and Pakistan”.
Jefferies highlighted that this “red line” was upheld despite the heavy economic costs, effectively denying the 47th American president one of his opportunities to strengthen his international standing and potentially seek recognition such as the Nobel Peace Prize.
The report also pointed out India’s dependency on Agriculture and highlighted that no Indian government, including the current one, is willing to open up the agriculture sector to imports because of the dire consequences it would have on millions of people.
Nearly 250 million farmers and related labourers depend on agriculture for their livelihoods, with the sector accounting for nearly 40 per cent of India’s workforce, the report noted.
As per Jefferies, the draconian tariffs now imposed on India are also tied to a wider chain of events. Trump has not been able to end the Ukraine conflict as he had promised, and India’s continued purchases of Russian oil have become an added issue in Washington.
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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
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