President Donald Trump's tariff war is reshaping global dynamics. While the US has slapped hefty tariffs on India for buying crude oil from Russia, it remains silent over China, the largest buyer of Russian oil. Amidst this, China has openly criticized the US.
In India, China's Ambassador Xu Feihong described the US as a bully, asserting that it has long profited from free trade but now turns these tariffs into bargaining chips.
Feihong highlighted that the US imposed up to 50% tariffs on India, which China strongly opposes. He stressed that remaining silent on these hefty tariffs only emboldens the bully. Therefore, China stands firmly with India.
Discussing market access for Indian goods in China, Feihong pointed out the exponential growth in bilateral trade. We welcome the entry of more Indian products into China’s markets. India is highly competitive in IT, software, and biomedicine sectors, whereas China is expanding in electronics manufacturing, infrastructure, and new energy sectors.
He expressed the desire for more Indian businesses to invest in China and hoped that Chinese investors find a favorable environment in India.
It is noteworthy that initially, President Trump had imposed a 25% tariff on India; however, following India's purchase of low-priced crude oil from Russia amid the Ukraine war, an additional 25% tariff was imposed, pushing the total US tariff on India to 50%.
