Trump move unlikely to impact India, says FIEO

New Delhi: Apex exporters’ body FIEO on Tuesday said US President Donald Trump’s announcement to impose 25 per cent duty on countries doing business with Iran will almost have no impact on India. Trump has announced that any country doing business with Iran will have to pay a 25 per cent tariff on its trade with Washington, a move that could impact Tehran’s major trading partners such as India, China and the UAE. Federation of Indian Export Organisations (FIEO) said that Indian companies and banks are in full and demonstrable compliance of OFAC (Office of Foreign Assets Control) sanctions on Iran, engaging exclusively in clearly permitted humanitarian trade, mainly in food and pharmaceuticals. “There is, therefore, no basis to anticipate any adverse impact on India,” FIEO Director General Ajay Sahai said.