Yoga guru Ramdev has hit out at the Donald Trump administration for imposing an additional 25 per cent tariff on Indian goods for purchasing Russian crude oil, calling for a complete boycott of American companies and brands.
Yoga guru Ramdev slammed the Donald Trump administration for imposing an additional 25% tariff on Indian goods. (ANI file )
Ramdev’s comments come hours after US President Donald Trump’s doubling of tariffs on imports from India to as much as 50 per cent took effect as scheduled on Wednesday, delivering a serious blow to ties between two powerful democracies that had in recent decades become strategic partners.
A punitive 25 per cent tariff, imposed due to India’s purchases of Russian oil, was added to Trump’s prior 25 per cent tariff on many imports from the South Asian nation.
Describing the move as a “political bullying, hooliganism and dictatorship”, Ramdev, while addressing the media, said, “Indian citizens should strongly oppose the 50 per cent tariffs that America has imposed on India. American companies and brands should be completely boycotted.”
Ramdev also urged people to stop buying US food products from Pepsi, Coca-Cola, Subway, KFC, or McDonald’s outlets.
“Not a single Indian should be seen at the counters of Pepsi, Coca-Cola, Subway, KFC, or McDonald’s. There should be such a massive boycott… If this happens, chaos will ensue in America. Inflation will increase in America to the point where Trump himself may have to retract these tariffs. Trump has committed a blunder by turning against India,” news agency ANI quoted Ramdev as saying.
Watch the video here: Trump tariffs on India
The additional 25 per cent duties take total tariffs as high as 50 per cent for goods as varied as garments, gems and jewellery, footwear, sporting goods, furniture and chemicals, among the highest imposed by the US and roughly on par with Brazil and China.
The new tariffs threaten thousands of small exporters and jobs in India, including Gujarat, and are expected to hurt growth in the world’s fastest-growing major economy.
There was no indication of renewed talks between Washington and New Delhi on Wednesday, after five rounds of talks failed to yield a trade deal to cut US tariff rates to around 15 per cent – like the deals agreed by Japan, South Korea and the European Union.
There was no Indian market reaction to the move on Wednesday as bourses were closed for a Hindu festival, but on Tuesday, equity benchmarks logged their worst session in three months after a Washington notification confirmed the additional tariff.
The Indian rupee also continued its losing streak for a fifth consecutive session on Tuesday, ending at its lowest level in three weeks.
(With inputs from agencies)