Hyderabad (Telangana) [India], August 29 : All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi hit out at the Prime Minister Narendra Modi-led NDA government at the Centre over the US's 50 per cent tariff on India and asked why the BJP was frightened of the US. He demanded answers from the Modi government to the people who would suffer losses.
Speaking to ANI, Asaduddin Owaisi said, "This is going to have a major impact. 50 percent of our exports are going to be affected. Rs 60,000 Crores of our export of motor parts, jewellery, gems, readymade garments are going to be badly impacted. In February, our PM met the US President Donald Trump, they held talks, and after that, the tariff situation started. They are blaming us for the attack on Ukraine. The 50 percent tariff will cause a major loss to India's exporters. I think the Narendra Modi Government will have to answer to the people of the country. Modi Govt will have to answer what they are going to do for those who are going to suffer losses. US' Peter Navarro is making statements."
Had the same statements been made on the PM by an Opposition leader in the country, the BJP would have attacked him.
"Why are they silent? Why are you so scared of the US? The biggest mistake we made was when the US President, in his first tenure, told us to stop buying oil from Iran. Had you shown him 'laal aankhein' at that time, this day would not have come. Iran was selling us good quality oil at a reasonable price. We blinked there so they could see that they can scare us. That was the first mistake we made. I had said in the Parliament not to accept it. Instead of taunting the Opposition, BJP spokespersons should tell the country what is happening," he said.
Earlier, Senior Counsellor for Trade and Manufacturing of the White House, Peter Navarro, again accused India of profiting out of Russian oil in scalding remarks.
Navarro, considered the key driver behind the 50 per cent tariffs on India, said that India engaged in unfair trade, which the tariffs aim to curb.
In a post on X, he said, "President Trump's 50% tariffs on Indian imports are now in effect. This isn't just about India's unfair trade--it's about cutting off the financial lifeline India has extended to Putin's war machine."
Indian stock markets fell for the third straight session on Friday, waiting for positive cues after the US decision to impose a 50 per cent tariff on Indian goods.
At the end of the trading today, the Sensex was down 270.92 points or 0.34 per cent at 79,809.65, and the Nifty 50 at the National Stock Exchange (NSE) settled at 24,426.85, down 4.05 points or 0.30 per cent.
"The ongoing decline appears to be more sentiment-driven in the absence of fresh positive triggers. Notably, the Nifty is now approaching a critical support zone at 24,250-24,350," said Ajit Mishra, SVP, Research, Religare Broking Ltd.