US tariff will deter FDI, hits jobs hard: Owaisi

Hyderabad: AIMIM President Asaduddin Owaisi on Thursday expressed apprehensions that the 50 per cent tariff imposed by the US on India will disrupt supply chains, deter Foreign Direct Investment (FDI), and hit jobs hard.

The Hyderabad MP, in a post on social media platform X, reacted strongly to the fresh tariff announced by US President Donald Trump.

“Trump just slapped another 25% tariff on India, taking it to 50%, because we bought oil from Russia. This isn’t diplomacy, it’s bullying by the buffoon-in-chief who clearly doesn’t understand how global trade works,” he wrote.

“These tariffs will hurt Indian exporters, MSMEs, and manufacturers. It’ll disrupt supply chains, deter FDI, and hit jobs hard. But why will Narendra Modi care? Where are those BJP muscle-flexers now?” he asked.

“Last time I’d asked if Modi ji would show his 56-inch chest when Trump imposed 56% tariffs. Trump stopped at 50%. Maybe he’s scared of our non-biological PM? Was selling out our strategic autonomy worth filling your friends’ billionaire coffers?”

Owaisi had earlier criticised Trump for imposing a 25 per cent tariff.

“It’s sad to see my country’s government being bullied by a buffoon-in-chief in the White House. This tariff will come with a vague ‘penalty’ for trading with Russia. India is independent sovereign country. Not a vassal state that gives salami in the Emperor’s court,” he had said in a post on July 31.

“These measures are a clear and deliberate attack on our sovereignty and economic standing. I’ve raised the issue of rising hostile trade practices against India in Parliament for years. These tariffs will hit Indian MSMEs, manufacturers, IT firms, service providers, and even our farmers. They’ll deter FDI, damage exports, and hurt jobs. While Japan will pay 15%, Vietnam will pay 20% and Indonesia has a tariff of 19%. This will hit India’s competitive advantage for US exports,” he had said.

Questioning Prime Minister Narendra Modi’s silence, he asked: “Is this the ’56-inch chest’ we were promised? Or will we only see it if Trump raises tariffs to 56%?”

IANS