Trump Steps Back, India Escapes Tariff Problem, But…

The kind of inconsistency in the decision-making of United States, president to Donald Trump has become a major concern to the global countries. The speed at which he has been changing his decisions has been beyond ordinary.

But now this swift decision making of Trump has momentarily helped India as he decided to go back on the imposition of tariffs on India.

The lucky thing is that Trump has decided to waive off tariffs of upto 100% that were imposed on India, Russia, and China. This is momentary relief to India as these elevated tariffs could have severely affected the market here.

Donald Trump has waived key tariff and sanctions provisions under the Graham Act, days before they were due to take effect.

The law provided tariffs of up to 100% on goods from the five largest buyers of Russian oil and gas including India and China and 500% duties on Russian origin goods.

Trump said the waiver was in the US national interest. The move pauses the new measures rather than permanently cancelling them. This might be temporary relief to India and other countries involved, but no one knows what Trump is going to do next.

For now, India can breathe a sigh of relief with the removal of additional tariffs, but no one knows what is going to come up with Trump next.