New Delhi: The Ministry of External Affairs on Friday Addressed The Tariff Impression Threat from Us President Donald Trump from Aporal 2. Non-Tariff Barriers“With the International to” Deepen India-Rus Two-wait Trade “.
AMID Stern Response from Canada, China and Mexica, Who have imposed reciprocal tariffs on the states and have also filled a complaint with the world trade organization, india, in our “Our objective through the bta is to strengthen and deepen India-as two-wait trade the goods and services sector, Increase Market Access, Reduce Tariff and Non-Tariff Barriers, and Deepen Supply Chain Integration Between the Two Countries. “
Trump has reepeatedly said that India is a high-Tariff Nation and Has Expressed His Intens to Pull Off a Tit-For -TAT. “And the big one will be on April 2, when reciprocal tariffs, so if India or China, or any of the counts that really … India is a very high tariff nation,” He said friday.
Is Tesla Eyeing No Tariffs?
The mea Response Comes in Amid reports of Trump Administration Pushing for India's Consent to Eliminate Tarifs on Automobile Imports as Part of a Proposed Bilateral Trade Deal. However, India remains cautious about brings the duties down to zero immediatily, thought it is open to considering potential Reductions, Sources Told Reuters.
India Imposses Import Duties of Up to 110% On Vehicles, A Tariff Tesla Ceo Elon Musk Has Criticized as One of the Highest globally. The steep duties previously promoted the electric vehicle giant to Shelve Its Plans to Enter India's Automobile Market, The Third-Larget in the World.
Amid Trade War, will India emerge as the winner?
According to the think tank gtri, emerging trade barriers present India with an opportunity to explore alternative sourcing options, particularly from canada, beye komodities may no more Competitively priced.
Canada plays a vital role in supplying essential importants that align with India's high-demand sector. Earlier in 2024, The US Imported Substantial Volumes of Crude Petroleum Oil ($ 103 Billion), Refined Petroleum Oil ($ 12.9 Billion), and Fertilizers ($ 3.1 Billion) From Canada, Highighting Strong Export Capacity.
India's Own Import Needs Are Significant Across Key Commodities, Including Crude Oil ($ 140.3 Billion), Gold ($ 42.5 Billion), Copper ($ 2.8 Billion) ($ 2.2 billion), plastics ($ 1.3 billion), and fertilizers ($ 1.3 billion). With Canada Alredy Exporting Copper Cathodes ($ 1.3 Billion), Gold ($ 4.3 Billion), Ethylene Polymers ($ 2.2 2.2 Billion), and Plastic ($ 2.1 Billion), IT COLD Emerge AS A Supplier for India's Growing Demand.
It noted that Escalating Trade Tensions Cold Work in India's favorite by Boosting Exports and Attracting Greater American Investments. Srivastava highlighted that during during his first term, trump scrapped nafta in favor of the usmca in 2018-19, arguing that the older agreement was outdated and harmful to amenican works.
(Tagstotranslate) Tariff Barriers India (T) Non-Tariff Barriers (T) India US Trade Relations (T) India Automobile Import Duties (T)
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