Overview
From denying PM Modi a US visa in 2005 when he was the CM of the state of Gujarat, to US officials not coming to pick up the Prime Minister of India at the New York airport in 2023. From the US imposing sanctions on us in 1998 for conducting nuclear bomb tests, to not giving us access to GPS when we requested to use it during the Kargil War (1999). History remains proof that the US was never standing behind us on an emotional front, but at some points was driven toward us because of strategic advantages.
Chapter 01 : Donald Trump - More Businessman than Politician?
It's been observed over the past few days that Donald Trump has been releasing intriguing statements, one of which even shook Indian foreign policy (how?) during Operation Sindoor. But the question is: why is he doing this? The answer could be short and precise—he wants to grow his own social media platform named 'Truth Social,' which is owned by his company, Trump Media & Technology Group. It was launched in February 2022 to provide an alternative to Twitter and Facebook. So basically, what Trump is trying to do is post intriguing statements on Truth and make the audience aware of his platform, because his statements are so unpredictable these days that every media house will be affected directly or indirectly and will then make sure to post them on their respective pages.
Logo of TRUTH social.
In conclusion if I have to say then it's just a publicity stunt played by Trump to promote his social media platform 'Truth Social'.
Chapter 02 : Proactive decisions and Taxation :
Recently, the US rejected 15 shipments of mangoes sent by India to Atlanta, citing errors in the documentation process, and then instructed the exporters to either ship them back to India or destroy them there. The exporters chose the latter option. The reason for the rejection of the shipments lies in inconsistencies in the documentation of the irradiation process, according to officials.
The Indian exporters will potentially suffer with a loss of $500,000, The Economic Times reported.
New Trump Card played by US : 'One Big Beautiful Bill Act' :
Foreign workers in the US are set to face a 5% tax on transferring the money they earn in the US to other countries. This bill is expected to impact India in the short term. The remittance tax implemented by the US government will prompt people living there to send money to their respective countries before the law is enforced, so they can avoid the 5% tax for the time being.
For India, this will likely impact the stock market and real estate sectors, due to the large inflow of money people will send before the law is implemented to avoid the tax on their funds.
Remittances accounted for 3.4% of India's GDP in year 2024 as per Wikipedia.
Also 23.4% the highest percentage of remittances comes from USA as per the RBI Remittances Survey,2021. The list is followed by UAE(18%) and UK(6.8%).
Concluding, the tax remittance plan of the US will effect the Indians living in US in the short term but shall not in that percentage in the long run.