‘Trade friction between U.S., India is over unequal tariffs’
What has happened?
The friction between the U.S. and India on trade issues has arisen due to the unequal tariff regime implemented by the two countries, according to a senior U.S. envoy, even as India is trying to get an exemption from the import tariffs imposed by the U.S. on steel and aluminium
Background
U.S. Assistant Trade Representative Mark Linscott is visiting New Delhi on a two-day trip starting Monday, and he will meet senior Commerce Ministry officials to discuss the issue of the tariffs
Agenda of the meeting
The agenda of the meeting is to make the case that the tariffs on steel and aluminium imposed by the U.S. should not be levied on India because the Asian nation ‘does not pose any security threat to the U.S.
US tariff on steel and aluminium
- U.S. President Donald Trump had early last month signed two proclamations that levied a 25% tariff on steel and a 10% tariff on aluminium imported from all countries except Canada and Mexico
- This move was widely criticised, especially by China, which has also undertaken some retaliatory tariff measures
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