According to reports, India is planning to put tariff on US goods; the decision might escalate the Trade War between the two countries. Few analysts stated that the present decision might cause India a great deal of loss in the upcoming future.
Back on June 16, 2019, India placed tariff on 28 US goods, including almonds, chemicals and apples. While speaking to the press one of the governmental authoritative figures stated that the present tariff has been hiked after the US levied tax on India’s aluminum and steel.
While speaking to the press, Priyanka Kishore said that India has taken a bad step by increasing tax on US goods. She also stated that due to present step India’s economy might get harmed in future. In comparison to China, India exports more to the US than its total import. Back in 2018, India had imported goods worth $33 billion from the US, while its overall export is about $54 billion. Due to several Indian IT companies like Wipro, TCS and Infosys, total trade for the year 2018 was in favor of India.
In one of her exclusive interviews, Priyanka Kishore also stated that India’s economy might get severely affected if US puts tariff on exports which are labor intensive. Previously, the US president has considered the trade deficit between US and India. He has also considered the fact that India is increasing tariff on imported motorcycles as well as on alcoholic drinks. The US also cut off India from its preferential trading platform. Now, India has to pay tariff for goods worth $6 billion.
While speaking to the press, Rajat Kathuria said that the present decision taken by India was a wise one. He also said that the government is firm on the decision which it has taken. Through a tweet Michael Kugelman said that the present decision taken by the Indian government can be considered as remarkable.
While speaking to the press, Kathuria said that if the Trade War escalates then India won’t be able to negotiate like China. He also said that the government can turn the situation in favor of India if the country suffers in anyway due to the Trade War.
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