'Can take their dead economies down': Trump lambasts India, Russia over trade
PTC News Desk: A day after slapping sweeping tariffs on India coupled with trade penalties US President Donald Trump unleashed scathing attack over New Delhi's trade with Moscow, deeming both nations as 'dead economies' and brazenly declaring he "does not care" what India does with Russia.
Trump on his social media platform accused India of levying 'among the highest tariffs in the world' while blaming New Delhi for what he claimed was "very little business" between the two nations. He also reiterated its grip over Indian's unfair trade practices.
The US President's remarks come a day after he announced 25 per cent tariffs on imports from India, plus a penalty for New Delhi's purchases from Russia.
"Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary trade barriers of any Country," Trump said, adding that the US has a "massive" trade deficit with India.
Following Trump's announcement on tariffs, the government said it has "taken note" and is "studying its implications". "India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective. The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs," the Ministry of Commerce and Industry said in a statement.
"The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK," the government said.
- With inputs from agencies
