New Delhi. US President Donald Trump imposed a 25 % tariff on India. Then purchased crude oil and weapons from Russia and announced 25 percent tariffs against Ukraine on charges of helping him. Due to this, America’s tariff on India has increased to 50 percent. Trump has also announced that later he will put up to 250 percent tariffs on medicines. This is expected to affect the pockets of sick people in America.
According to a report by State Bank of India i.e. SBI, the US will suffer a lot due to the tariff of Donald Trump on India’s goods. SBI report says that 50 percent of tariffs on India will have a huge impact on the consumers of America. According to the report, India accounts for 35 percent of the total generic medicines in the US. Even if the supply of medicines in the US and the supply of APIs used to make medicines, it will take 3 to 5 years. According to SBI, every person in America spends an average of $ 15000 per annum on health. America’s GDP costs 17.6 percent health. Healthcare will be expensive due to tariffs on India’s generic medicine.
On the other hand, Donald Trump has also said that there will be no talks on the trade agreement with India till the tariff issue is resolved. Whereas, on August 25, there is a program to visit the US delegation to India for the fifth round of talks on the trade agreement. It remains to be seen whether the US delegation visits India after the latest announcement of Trump’s trade agreement. India has clearly stated on Trump’s tariff that the interest of 140 crore Indians is the first priority of the government. The Government of India, while showing a mirror to America and Europe, has also said that they themselves import all things including gas and uranium from Russia.