US President Donald Trump has increased the tariff from 10 to 15%. Now it is being estimated that this will affect India. In such a situation, when fund manager Sameer Arora has made a post on behalf of Trump regarding increasing global tariff and its impact. In this he said that this will not affect India in any way. They have underestimated it. Also said that despite the political and legal drama in Washington, India’s situation is largely the same as before.
On February 20, the US Supreme Court, in a 6-3 ruling, struck down the President’s global tariff order. The court had called it one-sided. After this, Trump said in the press conference that his administration will adopt new legal avenues to impose tariffs. This also includes those sections of federal law that require investigation by the Commerce Department.
What has Sameer Arora, founder of Helios Capital, said?
Sameer Arora, founder of Helios Capital, has argued that this move has not only caused loss to India. He has mentioned eight points in his post. It is said in it that as far as India is concerned, there is nothing wrong in 15 percent. He told that more than 90 countries which were earlier under the scope of 10% tariff, are now under 15%. It includes America’s trading partner countries like Australia, UK, Singapore and UAE.
He said that the problem arises when different tariffs are imposed on countries. But if the same tariff is imposed on all countries, what difference does it make? This is a matter related to US internal tax.
Arora said that the first 10 percent was very surprising. Under that framework, the maximum allowed limit was 15 percent. There has been no change in the larger global environment.
The rate of 15 percent has been fixed for the next 150 days. To extend it beyond about five months, Congress’s approval is required. This may lead to political uncertainty. Apart from this, he said that India is happy to sign deals at 18 percent, and now it is only 15 percent.
Trump said – new laws will be made and issued
Here, the US President has said that his administration will make and issue new tariff laws in the next few months. He has also called the decision of the Supreme Court wrong. Also, the US President has talked about imposing tariffs under other legal rules.
