This is What Shashi Tharoor Had To Say On US Imposing 25 % Tarrifs Announcement For Those Countries Trading With Iran

The Congress MP said he had been “troubled” by the US tariff regime from the very beginning, adding that India was already at a disadvantage compared to its regional competitors.

Speaking to ANI, Tharoor said, “I have always been troubled about these tariffs because even the very first 25 per cent that was given to India was a problem because all the other economies, our rivals in South East Asia, who are competing with us in terms of labour-intensive industries that we produce, that we export to America like gems, jewellery, marine products, shrimp, leather, all these kinds of goods countries like Vietnam, Thailand, Indonesia and even Pakistan and Bangladesh were all given tariff between 15 per cent and 19 per cent.”

He added that the situation had worsened with additional sanctions-related tariffs.

“So, the 25 per cent was already a problem. Now, you have 25 per cent more for Russian sanctions which takes it up to 50 per cent and if there are 25 per cent more in Iranian sanctions, that it takes it up to 75 per cent. So, let’s face it, no Indian company will be viable in exporting to America at 75 per cent,” Tharoor said.

“It will be only those items that are not so far sanctioned, like pharmaceuticals and so, which we can continue selling. The other items will not be viable. So, it is troubling. I don’t know what the Government is saying, but from my point of view, this is very serious,” he asserted.

The Congress MP also expressed hope that the new US Ambassador could help with the trade deal. “I hope that the new US Ambassador would work very hard on his Government and our Government and try and bring a meeting of the minds very quickly on the trade deal,” he added.