Trump threatens to increase the fees on India within 24 hours .. I know the reason
“India was not a good commercial partner, because it benefits a lot of us but we do not do it with it, so we agreed to impose a 25%fee, but I think I will increase it significantly during the next twenty -four hours, because they buy Russian oil,” Trump said in an interview with CNBC.
Buying oil from Russia
India, which has not yet signed any trade agreement with the United States, has yet threatened to impose customs duties by 25% on its products, but US President Donald Trump threatened to escalate “within the next 24 hours”, accusing New Delhi of continuing to buy Russian oil.
Trump has repeatedly threatened India to impose sanctions if it continues to buy oil from Russia, without clarifying the level of these sanctions, which raised the anxiety of Indian industrialists.
Pharmaceutical products fee
As for pharmaceutical products, the White House administration plans to target customs duties targeting specific sectors (sectoral fees), with the possibility of announcing this soon.
“We will impose limited customs duties at first on pharmaceutical products, but within a year, or a half years as a maximum, it will reach 150%, then to 250% because we want medications to be made in our country,” Trump said.
In early July, Trump announced his intention to impose customs duties by 200% on drugs imported to the United States if their manufacturing operations are not transferred to American territory.
Reducing drug prices
The American president at the same time wants to reduce the prices of medicines, which are on average average compared to most other industrialized countries.
In letters last week to 17 companies in the sector, he demanded that the prices of their products be reduced under the threat of revenge, while giving them a deadline until September 29 to make clear pledges in this regard.
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