Australia to increase investment in India amid US tariffs? Farrel slams Trump's ‘dead economy jibe’, says ‘we want…'

Australia pushed back against US President Donald Trump’s “dead economy” jibe at India, with the nation's trade minister Don Farrell sating that his country “is keen to increase investment in India.”

A day after Australian Foreign minister Penny Wong opposed the tariffs imposed by the US, Australian Trade minister Don Farrell stressed that his nation does not support the imposition of tariffs, whether they be on Australia or India.

“Australia is keen to increase investment in India. Like Australia, India is a thriving democracy, and we want to work with countries like India to boost our two-way trade and to boost our investment… We see great opportunities in India,” said Farrell.

The Australian trade minister's come amid Trump's 50 per cent tariffs on all Indian goods, which came into effect on Wednesday, August 27.

What did Don Farrel say on US tariffs?

Don Farrell criticised the Trump administration's tariff move on India, emphasising that Australia stands for “free, fair and open” trade, best as the best way of ensuring prosperity for its workers and the country.

“So we don’t support the imposition of tariffs, whether they be on Australia or India. Your relationship with the United States is something for you to work through. But only this week, I have met with officials of the US government to make it clear that our view is that the 10% tariff that we have imposed on Australia is not the right way to go,” Farrel told reporters.

Speaking on the Comprehensive Economic Cooperation Agreement, Farrell said Australia had sent its top negotiator to New Delhi and held a “productive” round of talks.

Trump tariffs a ‘wake-up call’?

Raghuram Rajan, the 23rd Governor of the Reserve Bank of India (RBI), reacted to the 50% tariffs imposed on India by the United States, calling them a “wake-up call” for the Indian government. Raghuram Rajan also said that the 50% tariffs indicate that the relationship between India and the US has “clearly broken down”.