‘Trump has made tariffs household name’ says Congress leader Jairam Ramesh
Donald Trump recently claimed that India had agreed to reduce tariffs levied against US imports after slamming the country for having high duties.
Congress general secretary Jairam Ramesh on Sunday stated that US President Trump had made tariffs a household name across the world.
Donald Trump recently claimed that India had agreed to reduce tariffs levied against US imports after slamming the country for having high duties.
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Jairam Ramesh in a post on X, said, “Till the mid-1910s tariffs were the main source of revenue for the US government. In 1913, the US Constitution was amended to introduce a federal income tax for the first time.”
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He added, “One of the most influential economists who championed and campaigned for the federal income tax was Edwin Seligman, a Professor of Public Finance at Columbia University.”
Jairam Ramesh stated that Seligman was also Babasaheb Ambedkar's mentor in economics, and the two stayed in touch with Ambedkar after his graduation from Columbia.
Trump claims India will reduce tariffs
Earlier, on Saturday, the Congress leader had questioned prime minister Modi about Trump's claims tat India would be reducing duties levied on US imports.
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"The Commerce Minister Piyush Goyal is in Washington DC to talk trade with the Americans. Meanwhile, President Trump says this. What has the Modi Government agreed to? Are the interests of Indian farmers and of Indian manufacturing being compromised? The PM must take Parliament into confidence when it resumes on March 10th," Ramesh wrote on in a post on X.
Ramesh had also criticised Donald Trump for announcing retaliatory tariffs against several countries and indulging in a trade war.
"'You tariff, I tariff', that is not the way international trade functions. These rules have been negotiated. The WTO is World Trade Organisation not World Trump Organisation," he said.
