17 JUN,2019 | MEDC
The government has decided to hike import tariffs on 29 goods from the USA. India’s retaliatory tariffs will come into effect after June 16, leading to a rise in the cost of American almonds, walnuts, apples, and lentils. This move follows America abruptly ending preferential tariffs for some Indian exports earlier this month. The US administration has repeatedly called on India for its high tariffs, despite the normalization of security and political ties between the two nations. The international situation is unfolding gingerly and India seems to be veering around to the Chinese and Russian view in how America is to be dealt with. In the long run, there is a need to enter global negotiations as equals and not be weighed down by any undue pressures from any quarters. Tariffs are a strategic weapon in today’s trade wars and India’s tariff policy will surely have its share of pros and cons.
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