PM Modi's High-Level Meet on US Tariffs Today

The US has officially started imposing tariffs on dozens of countries including India. At the same time, Prime Minister Narendra Modi will chair an important high-level cabinet meeting at 1 pm today, in which the impact of the massive tariff hike imposed by the US on Indian exports recently will be assessed. At the same time, some important decisions can also be taken in this meeting.

The US decided to increase tariffs on India by 50 percent
This step has been taken amid growing trade tensions between the two countries after the US decided to increase tariffs on Indian goods by 50 percent. India's strategic response to the US action is expected to be discussed in this meeting.

The White House said that after midnight on Thursday, products coming from more than 60 countries and the European Union will be subject to a tariff of 10 percent or more.

Tariff will also be imposed on these countries

Products coming from the European Union, Japan and South Korea will be taxed at 15 percent, while imports from Taiwan, Vietnam and Bangladesh will be taxed at 20 percent. Trump also hopes that countries like the European Union, Japan and South Korea will invest billions of dollars in the US.

An American trade association warned Trump

The new tariff on Indian goods will also affect the kitchens of Americans. The reason is that the new tariff will make the spices imported from India expensive, which will increase the cost of food.

A trade association warned on Wednesday that many spices used by home kitchens, restaurants and big manufacturers are imported from India and the 50 percent tariff imposed on India by President Donald Trump may increase the cost. According to the US Department of Agriculture, last year the US imported spices worth more than $ 410 million from India.

America is adamant on agriculture and dairy products

This statement of Prime Minister Modi is being considered very important after the ongoing talks between India and America regarding the bilateral trade agreement and the announcement of tariff by the Trump administration. Actually, agriculture and dairy products are proving to be a big obstacle in the bilateral talks between India and America. America is adamant on opening the Indian market for its agriculture and dairy products.