USA raises tariffs on $200 billion in Chinese goods to 25% from 10%.

13 MAY,2019 | MEDC


 

This will escalate the trade war between the world’s two largest economies, as China is expected to retaliate. There are 5,700 categories of Chinese products that are affected by the move and it is likely to lead to a fall in China’s GDP growth rate in 2019 by 0.3 percentage points. These trade tensions also eroded global investor wealth to the tune of $2.1 trillion. How India can gain from the unfolding situation remains to be seen. We have our own domestic compulsions, stemming primarily from the outcome of the ongoing elections. Until we get our infrastructure act together and work on further enhancing the ease of doing business in the country, we won’t be able to benefit in the least from this opportunity.

*Photo Credit: Google

 

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