India Prime Minisiter, Narendra Moodi to hold a high-level Cabinet meeting today at 1 p.m. to assess the impact of the steep tariff hike recently imposed by America on Indian exports.
The move comes amid escalating trade tensions between India and Unite States, following the US decision to raise tariffs on Indian goods to a total of 50 per
cent.
The meeting is expected to discuss India’s strategic response to the US action.
The latest round of tariffs, an additional 25 per cent hike, was announced by US President Donald Trump on Wednesday, citing India’s continued imports of Russian crude oil as the primary reason. This comes on top of a previous 25 per cent tariff that came into effect on July 20.