&imwidth=800&imheight=600&format=webp&quality=medium "Financial emergency in India post Trump's 25% tariffs? India's fact check unit clarifies Pakistani propaganda claims")
Days after US President Donald Trump imposed 25 per cent tariffs plus a penalty on India, a Pakistani propaganda account claimed that India has entered a state of financial emergency. However, the Indian government fact-check unit Press Information Bureau (PIB) debunked the claims.
The PIB fact-checked the claim it shared on its official X handle, stating that the claim made by the Pakistani account is "fake", clarifying that no financial emergency has been declared in India.
According to the Pakistani propaganda account, it suggested that India had entered a state of financial emergency after its markets reportedly lost $60 billion in value following Trump's tariff announcement. The Indian government stressed that the information is entirely baseless and fabricated.
What did Pakistan claim?
The Pakistani account shared a post, claiming that a financial emergency has been declared in India following a $60 billion market wipeout due to a 25 per cent tariff announced by Donald Trump.
The Press Information Bureau clarified, calling it "fake".
Trump on Wednesday (July 30) announced to impose a 25 per cent tariff on India, effective from August 1, saying that the US has a massive trade deficit with India. Trump stressed that, along with a 25 per cent tariff, India will also be paying penalties.
While noting that India is a "friend", said that relatively, the US has done "little business with them because their tariffs are far too high." The US president added that India's tariffs are among the “highest in the world, and they have the most strenuous and obnoxious non-monetary trade barriers of any country.”
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Trump continued, as he raised concerns over India buying the majority of its military equipment from Russia, at a time when everyone wants Russia to stop the war in Ukraine.
Later, India reacted to the US imposing 25 per cent tariffs on India, saying that the government is studying the implications of tariffs. The Indian Ministry of Commerce and Industry said that the government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.
Moreover, it concluded that the Indian government will take all steps necessary to "secure our national interest".
