Ranchi: The apex industry association of Jharkhand on Friday sought the central government's intervention in safeguarding the interests of businesses and incentive measures for relief in the wake of new tariffs imposed by the US. Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) general secretary Aditya Malhotra said the imposition of a high tax on Indian goods by the Donald Trump administration in the US created an "atmosphere of uncertainty" in global trade.
An initial 25% tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25% levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50%. "The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these taxes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI.
An initial 25% tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25% levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50%. "The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these taxes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI.