Chennai (Tamil Nadu) [India], August 16 (ANI): Tamil Nadu Chief Minister MK Stalin on Saturday expressed concern about the 50 per cent tariffs announced by the US on India, stating that this will hit the state harder than most states as their exports are deeply tied to the US market.
In a post on X, MK Stalin said, “With US tariffs rising from 25% to a possible 50%, Tamil Nadu will be hit harder than most states as our exports are deeply tied to the US market. Lakhs of jobs in textiles, leather, auto, machinery and other sectors are at risk.”
https://x.com/mkstalin/status/1956621755172491503
CM Stalin further urged Prime Minister Narendra Modi to take a number of measures, such as fixing GST on man-made fibres at 5%, removing duty on cotton imports and extending easy, low-interest loans with a moratorium to overcome this crisis.
“I have urged the Hon’ble PM Thiru. Narendra Modi to act swiftly by fixing GST on man-made fibres at 5%, removing duty on cotton imports, extending easy low-interest loans with moratorium, and enhancing export incentives and credit,” Stalin said.
He extended Tamil Nadu’s complete support to the Union Government to tackle the tariff “crisis.”
“Tamil Nadu will work closely with the Union Government to overcome this trade crisis,” he said.
President Donald Trump announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff, Trump also announced an additional 25% tariff on India that will go into effect later this month as a repercussion for importing Russian oil and gas.
The Ministry of External Affairs (MEA) has slammed the US’s move to impose additional tariffs, calling it “unfair, unjustified and unreasonable”, and further noted that New Delhi would take “all actions necessary to protect its national interests”.
Meanwhile, India is actively involved in the discussions on the Bilateral Trade Agreement with the US, which the two sides could not conclude due to the American demand to get comprehensive access to the Indian agriculture and dairy sector.
PM Modi has reaffirmed his support to protect farmers, saying that he is “standing tall like a wall against policies which are against farmer interest.”
“If any policy is against India’s farmers, fishermen, cattle rearers, Modi is standing like a wall,” PM Modi said. (ANI)
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