Now, India is on the Trump’s Radar of Global Trade War | [Exclusive Story]Mrs. Ella Wattson July 7, 2018 0 COMMENTS
Border tension and relationships are very crucial for the whole country, isn’t it?
A single trade move could affect a business involving billions of dollars. Trading is nothing but the imports and exports that is carried out from one country to another. As I say, a single rule can affect a lot many countries who are involved in the trading community.
One such move was taken the Trump-led government, that directly points towards China. What is it, and how can others be affected by it?
How did the war reach India? We shall find out.
Trump’s Gears up for a Global Trade War
According to Bloomberg, one of the members of the Trump administration mentioned that they are going to remove out all the Chinese exports that could make about $200 billion dollars in cash value. This will increase about 10% of the total tariffs in the coming months of the China trading. It will be enabled on about $50 billion worth of the Chinese goods.
In this, about the $34 billions of good will already have the tariffed updated by Friday this week. Now the remaining $16 billion will have the respective effects in the coming week.
Well, considering the $200 billion number, that is going to the toughest step ever taken in any trade war till now. Already the Trump government has already taken a stand for all the trade relations with all the giant trade partners like China, the European Union, and NAFTA.
The U.S with India
In this fight, the less significant yet important mention is about the trade relations between India and the United States.
Well, it all began when the Trump announced the tariff imposition for aluminum and other steel imports. India tried their best in exempting this, but they failed to do so. Later, India announced of increasing the import duty of about 29 goods brought from the U.S. This includes all the basic good like almonds, chickpeas, and even chocolates! Though, there are no duty hikes for the motorcycles imported from the U.S.
This current situation of the U.S demanding for all the increase in the import charges, and asking for all the concessions in all their exports – has been frustrating all the countries just like India.
It all started in the year 2013 when India was accused of imposing low export subsidies and selling their goods at a low cost, causing detriment to the American workers and people.
Comparing India with China, India only has a surplus trade of $25 billion compared to that of China’s $350 billion!
I don’t know how this war will end, but definitely, it will be something that no one ever has witnessed in the Trade War ever!