Contact Your Financial Adviser Money Making MC
21 June 2018
 |
| Farm
(The Total Investment & Insurance Solutions) |
India
increased duties on a slew of farm products, steel and iron imported from the
United States, a government notice said, joining the European Union and China
in retaliatory action against President Donald Trump`s tariff hikes on steel
and aluminum.
India`s move came a day after the EU`s
decision to charge higher import duties on a range of US products.
In tariff rates issued
late on Wednesday, India`s commerce ministry named some varieties of apples,
almonds, chickpeas, lentils, walnuts and artemia that would carry higher import
taxes. Most of these are purchased from the United States.
India also raised duties on some grades of iron and steel products.
Last month, India launched a complaint at the World Trade Organisation against
the United States over the steel and aluminum duties after it failed to win an
exemption.
It also gave a list of products to the WTO that
it said could incur higher tariffs.
An official from the steel ministry said at
the time that the new tariffs were intended to show displeasure at the U.S.
action. Some of the new Indian rates will take effect immediately while the
others would go into force on Aug. 4.
Rising trade tensions between the United
States and some major economies have threatened to derail global growth.
China on Thursday
warned that the interests of US workers and farmers will be hurt by
Washington`s intent to impose higher tariffs on some imported products.The Total Investment & Insurance
Solutions
No comments:
Post a Comment