18% tariff cut for India = "victory"? Big win for the USA.
• India will buy $500B US goods (~12X current imports), many at 0% tariff.
•Will completely ditch cheap Russian oil → buy from US/Venezuela (who will bear transport cost?)
• Open doors to subsidized US ag products → Indian farmers crushed by competition & falling prices.
US Ag Secy celebrating: "Lifting prices, pumping cash into rural America, reducing $1.3B deficit."
American Farmers & Industrialists are celebrating and we're busy in running PRs of 'Modi's Masterstroke' 🤦
This is in our hands to accept it. We as indians should strive more for indian made and grown in indian products. Irrespective of them celebrating the victory over this.
What to expect from illiterate people
We all knew modi had to cave in, sooner or later. let's just be happy he didn't tank the entire economy with this stupid brics thing before giving in.
