trade expert Says that if the new US President Donald Trump decides to impose higher customs duty on Indian products, then India should take similar steps in response. Experts said India has in the past also imposed retaliatory customs duties on several American products like apples in response to illegal duties imposed by the US on some steel and aluminum products. Trump had said in December that India imposes ‘a lot’ of tariffs. Along with this, he also reiterated his intention to impose reciprocal duties in response to the duties imposed by India on the import of some American products. Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), an economic research institute, said, “India should respond strongly and with similar measures. Earlier in 2018, when the US had imposed taxes on Indian steel and aluminium, India had also Retaliated by increasing tariffs on 29 American products.
These sectors of India may be affected
Srivastava said if the new US administration decides to pursue an ‘America First’ agenda, Indian exporters may face higher customs duties for auto, textile and pharmaceutical products. Apart from this, tightening of H-1B visa rules may affect the growth of Indian IT firms. International trade expert Abhijit Das said, “If the US imposes additional tariffs, the market for Indian goods will be closed. In such a situation, India should also retaliate with similar measures. This will influence future talks on removing illegal tariffs.” India’s position will be strengthened.” Trade experts also said Trump’s accusation of India ‘misusing’ import duties is unfair as many countries, including the US, protect their domestic industries by imposing higher customs duties on certain products.
Trump will increase tariffs in various areas
International trade expert Biswajit Dhar said Trump will increase tariffs in various sectors as he looks to fulfill his slogan of ‘Make America Great Again’ (MAGA). Dhar said, “Trump has raised the issue of trade surplus with India earlier also. India has always supported consultation, has never acted unilaterally. But if things do not work then we will have to take steps accordingly.” Should think about.” However, exporter organizations believe that Trump will not follow through on his threat of increasing tariffs, as many American companies have shown interest in investing in India and the imposition of tariffs will have an impact on them too.
India will have an opportunity to increase exports
Ashwini Kumar, president of FIEO, a federation of exporter organizations, said, “I think India-US trade relations will become stronger. If America imposes higher duties on Chinese products, then India will have an opportunity to increase its exports to America.” Putting aside the apprehensions, SP Sharma, Deputy General Secretary of PHD Chamber of Commerce and Industry, an industry body, said that like Trump’s previous tenure, India-America economic and trade relations are expected to strengthen this time too.
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