00:00President Trump has signed a fresh executive order to announce a fresh additional tariff of 25% on India in response to import of Russian oil to India, sir.
00:13I see. Well, I mean, I don't think that's particularly good news for us, but, you know, obviously that takes our total tariffs to 50%, then that's going to make our goods unaffordable to a lot of people in America.
00:26And in particularly when you're looking at these percentages, you have to compare them with the tariffs being levied on some of our competitors.
00:35And I'm afraid if you look at people like Vietnam, Indonesia, Philippines, even Bangladesh and Pakistan have lower tariffs than us, then ultimately people will not be buying goods from us in America if they can buy them cheaper elsewhere.
00:48So that's not very good for our exports to America. This means we need to very seriously diversify to other countries and other markets which may be interested in what we have to offer.
01:00We now have an FTA with the UK. We are talking to the EU. There are many countries in which hopefully we would be able to.
01:06But in the short term, it is definitely a blow. I don't think we can sugarcoat it.
01:10When President Trump was asked about the imports of America when we look at Russia, Russia's export to USA, sir, he said, I don't know about what America imports from Russia, either it's uranium or petroleum products, sir.
01:26Uranium, palladium, there are various things that are importing from Russia. But, you know, there is unfortunately a certain double standard involved.
01:33They have given the Chinese a 90-day break, but the Chinese are importing far more Russian oil than we are.
01:40So clearly this has not been a particularly friendly gesture from a country we thought was well disposed towards us, our administration that we thought was well disposed.
01:50Very clearly we have to act accordingly and we will have to learn our lessons from this experience.
01:55I think there is certainly a likelihood there would be some pressure within India now to impose a comparable reciprocal tariffs on American exports to India.
02:05So I think we are going to have to really start looking at other trading partners much more in these circumstances.
02:11From past decade, we have seen the entitlement of India to the United States.
02:17So can you see all these happening just because of this, sir?
02:23I'm sorry, because of what?
02:24No, no, no. We engage with all countries.
02:29We keep open lines of communication to all countries.
02:31Frankly, we were importing goods from China soon after they killed 20 of our soldiers.
02:36So it's not as if we have shut down relations with anybody.
02:39We are a country that believes in having multiple relations with multiple nations and partners.
02:44So I don't think that is going to change.
02:46But the emphasis, the opportunities, the degree of involvement, etc.
02:50will all be affected by an unfriendly development like this, certainly.
02:54He has already threatened India to impose additional tariffs and now he has done it.
02:59So what next President Trump wants to achieve, sir?
03:02What he is doing now, sir?
03:04I think only he can answer that question, my friend.
03:07Don't ask us.
03:08Thank you so much.
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