TaxTMI 
TaxTMI 
Jharkhand's apex industry association seeks Centre's intervention over US tariff
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....harkhand's apex industry association seeks Centre's intervention over US tariff<BR>Customs & Trade<BR>Dated:- 8-8-2025<BR>PTI<BR>Ranchi, Aug 8 (PTI) The apex industry association of Jharkhand on Friday sought the central government's intervention in safeguarding the interests of businesses and incentive measures for relief in the wake of new tariffs imposed by the US. Federation of Jharkhand Cham....
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....ber of Commerce and Industries (FJCCI) general secretary Aditya Malhotra said the imposition of a high tax on Indian goods by the Donald Trump administration in the US created an "atmosphere of uncertainty" in global trade. An initial 25 per cent tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25 per ....
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....cent levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50 per cent. The additional 25 per cent duty will come into effect after 21 days or August 27. "The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these t....
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....axes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI. Exports of steel, mining products, handicrafts and IT services to the US may become expensive, while the cost of machinery and technology coming from there will also increase, the FJCCI general secretary said. Jharkhand houses about 40 per cent of the country's total minerals and has the presence of sev....
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....eral industries. Malhotra said if the burden of additional tariff or tax increases on goods or services exported from Jharkhand to the US, the competitiveness of traders would be affected. "Also, the increase in the cost of imported machinery and technical equipment may push up the production cost of local industries. This will reduce the competitiveness of our industries," he said while express....
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....ing concerns over the US decisions. Under these circumstances, the FJCCI urges the central government to "safeguard the interests of the state by holding talks with the US and providing relief and incentive measures to the industries", he said. Singhbhum Chamber of Commerce and Industry (SCCI), a business body in the mineral-rich Kolhan region in Jharkhand, unveiled a poster to protest against t....
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....he US president's unilateral decision and called for a boycott of American products and promotion of Swadeshi items. The poster was launched on Thursday by SCCI president Vijay Anand Moonka. He said such a decision will have a far-reaching adverse impact at a time when the business landscape of the world was being influenced by a global perspective. PTI NAM BS BDC<BR> News - Press release - PIB....
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