Relations between the two countries have been on a downward slope ever since US President Donald Trump imposed 50 percent import duty on India. Earlier, after the 25 percent tariff imposed on America due to trade deficit, Trump had imposed 25 percent tariff on India as a penalty for buying oil from Russia. Due to this increased import duty, which became effective from August 27, India’s exports to America decreased in the next two months – September-October. However, according to the figures that have come out in November, defying Trump’s tariffs, India’s exports to America increased by 22.6 percent compared to last year and reached about seven billion dollars.
In such a situation, it is important to know how India has maintained its export figures despite Trump’s tariffs? Which sectors played a big role in this? Apart from this, has Trump’s move to reduce trade deficit with India through tariffs proved unsuccessful? What are the reasons for this? Let us know…
