Amit Mitra flags US tariffs threat
The Statesman | 5 October 2025In a post on his X-handle, Mr Mitra highlighted that Indian businesses, accustomed to taking calculated risks, are now exposed to unprecedented uncertainty. He cited multiple actions by the Trump administration, including a 25 per cent reciprocal tariff under the Emergency Power Act, penalties on Russian oil imports, adding another 25 per cent tariff, and a 50 per cent levy on steel and aluminium, under Section 232 of the Trade Expansion Act of 1962.
The latest threat involves a proposed 100 per cent tariff on branded and patented pharmaceuticals, aimed at global giant Pfizer, which manufactures patented medicines in India for US exports. Pfizer has reportedly offered discounted medicines through the portal TrumpRx.gov.
Mitra cautioned that these measures threaten MSMEs, supply chains, and millions of labour-intensive jobs. He also criticised the slow response of the Indian government, noting that diplomatic efforts such as high-profile visits and rhetoric have so far failed to mitigate the impact on exporters.
