Trump Tariffs: Target Iran: Huge Impact On India

Hyderabad, Jan 13 (Maxim News): India is already facing 50 percent tariffs on its trade with Russia. The US has imposed a 25 percent tariff on our country. In addition, it is being charged another 25 percent because it buys oil from Russia. Now, President Trump has recently announced that he will impose 25 percent tariffs on countries that trade with Iran. With this, it seems that India, one of Iran’s major trading partners, will also fall victim to this.

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According to statistics last year…our country exported products worth 1.24 billion dollars to Iran. It also imported goods worth 0.44 billion dollars from there. That is, there was a trade of approximately 1.68 billion dollars between the two countries. That is more than Rs.15 thousand crores in Indian currency. Mainly rice, tea, sugar, pharma, and organic chemicals are exported from India to Iran. Out of these, the highest value of organic chemicals exports is 512.92 million dollars. Now, we are importing petroleum products, plastics, fruits, nuts from Tehran. Most of the nuts coming to our country come from Iran. Experts say that its value is 311.60 billion dollars.

Now, Trump has issued a statement that if you do business with Iran, you will have to pay 25 percent tariffs. Analysts believe that this will have a huge impact on our country. They say that this will have a negative impact not only on trade but also on India’s strategic interests. The Chabahar Port project, which is being undertaken with Iran, is very crucial for India’s regional connectivity plans and supply chain. Now, due to the tariffs imposed by Trump, this project will be in doubt. If we calculate the actual amount, it seems that India will have to pay 75 percent tariffs. Experts say that this will seriously affect many sectors in our country. Along with this, these tariffs will also affect the trade talks that have been going on between India and the US for the last few months. There is a risk of canceling trade agreements. However, the US Supreme Court will pronounce its verdict on Trump’s tariffs tomorrow. Only after that will they become legal. No, if the court verdict is unfavorable to Trump, the US will have to repay hundreds of billions of dollars. (Maxim News) 

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