U.S. President Donald Trump has given stern signals regarding trade deals with India. Concerns loom over an anticipated 25 percent tariff on India and additional penalties on Russian oil purchases. Meanwhile, Trump's unexpected oil deal with Pakistan has drawn attention. Senior Congress leader Shashi Tharoor has shared his insights on this unfolding scenario.
Tharoor pointed out the necessity to assess the extent of tariffs the U.S. might implement, as the final decision hasn't been reached. There's potential for a 100 percent penalty for buying Russian oil. With Trump's discussions, this could be a bargaining tactic; however, excessive tariffs would ravage our trade.
Tharoor remarked that while trade negotiations with the U.S. are ongoing, failure to reach an agreement could impact our exports and destabilize our GDP. America's trade demands are entirely inappropriate, threatening the livelihoods of millions in India. The U.S. represents a significant market for us, with exports amounting to nearly $90 billion. A significant drop would be harmful to us.
He reiterated that America's demands are utterly unreasonable, and our negotiators are fully entitled to oppose them. Given nearly 700 million of our population depend on agriculture, we cannot jeopardize their livelihoods merely to please the U.S. They must also comprehend our needs.
Commenting on the U.S.-Pakistan oil deal, Tharoor speculated that Trump might be mistaken about discovering oil in Pakistan. We wish them luck. Meanwhile, we should concentrate on our priorities.
01/01/20XX
: President Trump signals potential tariffs and penalties. Trade talks continue.
02/01/20XX
: Tharoor comments on U.S.-Pakistan oil deal.
