Congress president Jairam Ramesh has clearly criticized the concept of reciprocal tariffs as being a complete negation of all accepted principles of international trade. He made the comments following the announcement by US President Donald Trump that he plans to impose tariffs that are equal to the tax rates that other countries charge on imports. The move has already raised fears of economic confrontations with both friends and enemies.
Ramesh took to social media to demand that Prime Minister Narendra Modi come forward and oppose Trump’s proposed tariff policy.” Reciprocal tariffs are a clear violation of all the principles of the international trade, and Mr. Modi should gather the courage to tell his friend that the ‘T’ in WTO stands for Trade and not Trump,” Ramesh posted on X (formerly Twitter).
Among the measures Trump has said he will take are reciprocal tariffs on countries such as India and China, and he has said his administration will “soon” do it. His comments chime with what he told PM Modi when he visited Washington DC, reinforcing his position on trade imbalances.
The Congress party went further with its criticism by asking PM Modi five direct questions, demanding that the PM explain what his plan is in the event that Trump goes ahead with his tariff plans. The party also wanted to know if the Modi government has a plan B in place to protect the Indian economy and its trade relations in case things do not go as planned.
This is despite the fact that global trade policies are currently under a lot of pressure, and protectionist measures have the potential to cause significant economic effects.
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