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Tariff War Effect on India: It is believed that America may bleed more in tariff war. Also, India can also be affected.
Tariff War Effect On India: On behalf of US President Donald Trump, tariff war has been launched by putting tariffs on China, Canada and Mexico. The new 25 percent tariff on imports from Mexico and Canada came into effect from Tuesday. At the same time, the tariff on Chinese goods has doubled to 20 percent. Now the three countries have also started strict action against America. It is believed that America’s bleeding may flow in this war. Also, India can also be affected.
Prices of seasonal fruits and vegetables increased in America
In fact, after this action of Donald Trump, it is believed that it can affect about 2.2 trillion dollars in American trade. Donald Trump has alleged that the three countries have failed to stop the deadly fantanel opioids in the US.
Reacting to this, China also released a list of putting an additional 10-15 per cent tariff on some US imports from March 10. China’s Foreign Ministry has given this information. Canadian Prime Minister Justin Trudeau has said that Canada is going to impose 25 % tariffs on US imports of 30 billion Canadian dollars. He has threatened Donald Trump that if Donald Trump’s tariffs are applicable even in 21 days, Canada will impose tariffs on 125 billion Canadian dollars imports.
Mexican President Claudia Shinbam has also said that Mexico has also prepared its list. This will be announced soon. At the same time, Donald Trump has vowed to impose mutual tariffs on European Union goods on 2 April. Due to the tariff, the prices of some goods were already increasing in the US. Its effect is being seen more on seasonal fruits and vegetables. In such a situation, prices may increase further in retaliation. American farmers have also suffered heavy losses. Also electrical goods can be expensive.
India will not suffer a lot in tariff war
The second India is also ready for tariff war. According to the latest report by Bloomberg, Indian officials are exploring ways to reduce duty on many types of imports, including cars and chemicals, to find the action of the action of US President Donald Trump. It includes automobiles, some agricultural products, chemicals, important pharmaceuticals as well as some medical equipment. The Government of India hopes that such efforts will help India to make a trade agreement with the US.
However, the official statement has not been released by the Government of India yet. Experts in the case say that India may not have to face much problem after the meeting of Prime Minister Narendra Modi and President Donald Trump recently. The two leaders agreed to work on the first section of the trade deal. Its goal is to do bilateral trade of $ 500 billion by 2030.
According to a report by news agency Reuters, Business Minister Piyush Goyal has gone on a visit to the US on Monday to pursue trade talks. During this time you can discuss mutual tariffs. At the same time, you can also discuss a business deal to promote party trade. Significantly, India has already cut the fee on many items. A report by Delhi -based think tank GTRI i.e. Global Trade Research Initiative has stated that India’s agriculture, fisheries and dairy may have an impact. Nevertheless, India will not suffer a lot of harm due to tariffs.
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