Trump’s tariff can actually be beneficial for India, how Sunil Jain is explaining
Trump Tarifs: US President Donald Trump
US President Donald Trump announced a reciperoot tariff on all countries on 2 April. After this, there was a panic in the stock market around the world. Trump has announced the least 10 percent and a maximum of 49 percent tariffs on countries. A 26 percent tariff has been loaded on goods and services exported to US from India. In such a situation, the question on everyone’s tongue is that what will be the effect on India? Can this disaster turn into an opportunity in India? Talking to NDTV, a member of the Indo American Chamber of Commerce Sunil Jain said that Trump’s tariff can actually be beneficial for India. He described the China factor behind it.
Q: Can China answer America right now?
Sunil Jain: “China is not in this position to trade war with the US. The reason is that China’s economy is basically dependent on export of goods and services. China exports $ 600 billion to the US. Because of this, China can not withstand a trade war with America right now. Also keep in mind that if China has retaliated, China will not bear the same loss, the US will be very dependent on it, because America will be very dependent on it, because America will also depend on the US items.
“Walmart’s statement has already come that 70 percent of its goods are being ordered from China and their sales will be affected a lot due to tariff. Now it is to see how America will suffer inflation due to tariff. America wants to bring all factories to it, but it will take 12 to 18 months to do so. Will you be able to get the interests on such a high tariff till that time. Will be, it’s difficult to say now. “
Q: Is this an opportunity in disaster for India?
Sunil Jain: “The total tariffs imposed on China are 20 percent more than India. In today’s time, there is a big opportunity for India. The government of India should now do that it leaves its own market open, makes the rules easier and promotes micro, small and medium industries. If this happens, we will be in a very good position. If India will be in a very good position. If India is going on, if it is going on, our status will be strong with America and the free trade agreement will be held on the free trade agreement.
Also read: 26% tariff imposed on India, why Trump gave ‘50% ‘discount!
