Trump Threatens India With New Tariffs Over Russia Oil Purchases
New Delhi: US President Donald Trump has decided to impose a 25% import duty on India, which has come into effect from 7 August. In addition, on 27 August, another 25% additional tariff will be imposed, which will reach the total fee of 50% on Indian exports. This step has been taken by India for continuing oil imports from Russia. Five rounds of talks took place between India and the US, but the Trump administration did not accept India's demands.
Tariff hike effect on the Indian economy
Impact on the stock market: After this news, the Indian stock market saw a decline.
Damage to exporters: Textile, auto parts, pharma, and IT sectors will be a huge challenge.
Employment threat: Many companies will reduce exports to America, which can affect employment.
Donald Trump's salary vs. Narendra Modi's salary
Meanwhile, an interesting comparison is that the American president's salary is many times more than the Indian prime minister's.
Trump's salary and features
Annual Salary: $400,000 (about 3.5 crore rupees)
Other allowances:
$50,000 (Rs 43 lakh) - Personal and official expenses
$100,000 (87 lakh rupees) - Travel allowance
$19,000 (16 lakh rupees) - Speech and organizing expenses
$100,000 (87 lakh rupees) - White House Maintenance
Total Benefits: 569,000 dollars (approx. Rs 5 crore)
PM Modi's salary
Monthly Salary: 1.66 lakh rupees
- Rs 50,000 - Basic salary
- 45,000 rupees - Parliamentary allowance
- Rs 3,000 - Expenditure allowance
- Rs 2,000 - Daily allowance
-Annual Salary: 19.92 lakh rupees (175 times less than Trump)
Will India bow under the pressure of America?
This step of America is a big challenge for India. If there is no compromise up to 27 August , Indian exports will suffer heavy losses. At the same time, comparison of Trump and Modi's salary shows that the US President gets more salary and facilities than the Indian Prime Minister.
Now it remains to be seen whether the Indian government will be able to make any compromise with the US or will face tariffs? Stay tuned to Dynamite News for further updates.
