Trump imposed 50 pct tariffs on New Delhi as he could not mediate India-Pakistan conflict: Jefferies
US President Donald Trump slapped a steep 50 percent tariff on New Delhi as he was not allowed to mediate in the India-Pakistan conflict, according to a report by American multinational investment bank and financial services company Jefferies.
The report stated that such unprecedentedly high tariffs were a "consequence" of Trump's "personal pique" and that he reportedly hoped to intervene in the conflict between the two South Asian nuclear powers.
"Tariffs are primarily the consequence of the American president's personal pique that he was not allowed to play a role in seeking to end the long-running acrimony between India and Pakistan," the report stated.
India has repeatedly said that it does not welcome interventions by other countries in conflicts with Pakistan.
Trump, meanwhile, claimed on multiple occasions that he ended several conflicts around the world, including the one between India and Pakistan.
The White House even claimed that Trump should be awarded the Nobel Peace Prize for the same.
"It's well past time that President Trump was awarded the Nobel Peace Prize," White House Press Secretary Karoline Leavitt had said in July.
Earlier this year, Trump, in a post on Truth Social, wrote: "I will work with you both to see if, after a thousand years, a solution can be arrived at, concerning Kashmir."
Trump announced to double tariffs on Indian imports — raising duties from 25% to 50% — striking sectors like textiles, gems and jewellery, and auto components, as "punishment" over India's Russian oil purchase.
Despite facing the prospect of heavy economic costs, India has maintained that it will not compromise on the interests of farmers and small-scale industries.
India had condemned the move and called it "unfair, unjustified and unreasonable".
The tariffs came into effect on August 27.
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