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Cryptocurrency News Articles
The mega MIGA, MAGA plans of India's Modi and US' Trump
Feb 20, 2025 at 02:41 am
Trump says India has more tariffs than othersTrump's 'golden rule' for imposing reciprocal tariffsElon Musk’s Push for a Fort Knox Audit
The meeting between Indian Prime Minister Narendra Modi and US President Donald Trump at the G7 summit in France on Monday was dominated by trade issues, with Trump accusing India of having "the highest" tariffs among G7 nations.
Trump's administration has been pushing for reciprocal tariffs on countries that impose high duties on US goods, a policy that has already led to trade disputes with China, the European Union, and other nations.
During a press conference at the summit, Trump said that India "has the highest tariffs of anybody in the G7." He added that the US "pays a lot of money to the G7 countries for defense" and that "we get nothing back."
Trump's comments come amid ongoing trade tensions between the US and India. In June, the US announced that it would be suspending preferential trade treatment for India under the Generalized System of Preferences (GSP) program, accusing the country of not providing "equitable and reasonable access" to its markets.
India has strongly criticized the US decision to suspend its GSP benefits, calling it "unilateral" and "unfair." The country has also said that it will be exploring other options, including legal challenges, to protect its interests.
Trump's administration has justified its decision to suspend India's GSP benefits by saying that the country has not met the criteria for the program, which includes providing adequate market access to US goods and services.
However, critics of the administration's decision have argued that it is politically motivated and that it will ultimately harm US businesses and consumers.
The US-India trade relationship is important for both countries. In 2018, bilateral trade reached a record high of $142.6 billion. The US is India's largest trading partner, while India is the ninth-largest trading partner for the US.
However, the trade relationship between the two countries has also been strained by a number of issues, including tariffs, intellectual property rights, and market access.
The Trump administration has accused India of having "unfair" trade practices and has threatened to impose tariffs on Indian goods if the country does not change its policies.
India, on the other hand, has accused the US of protectionism and has said that it will not be bullied into changing its trade policies.
The trade dispute between the US and India is likely to continue in the coming months, as both countries try to find a way to resolve their differences.
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- Bitcoin Nears $100K, Ethereum Holds Steady, and Solana Rises as Crypto Market Gains Momentum
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- The cryptocurrency market is recording some positive activity as Bitcoin (BTC) is closing in on $100, with Ethereum (ETH) showing strength and Solana (SOL) hitting some serious green numbers with the rise of other major altcoins
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