The US Trade Representative has proposed an additional 12.5 per cent duty on goods from 54 countries, including India, citing their failure to prohibit the import of goods produced with forced labour. India has denied the allegations and called for the matter to be resolved through bilateral trade negotiations.
High US tariffs are expected to affect close to 8 per cent of India's overall auto component production, ratings firm Icra said on Wednesday. Indian auto component exporters are at a relative disadvantage compared to most other Asian exporting nations, highlighting the importance of concluding an India-US bilateral trade agreement, it added.
President Donald Trump delayed tariffs on Mexico and Canada for a short-term period for certain products before the 'big one' from April 2.
Imposition of high tariffs on China, Mexico, and Canada by the US is expected to help Indian exporters in increasing their shipments to the American market, experts say.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
'I certainly hope the two can avoid a trade war and believe they will.' 'I expect some in India will push for retaliatory tariffs if the Trump administration applies significant reciprocal tariffs.'
China is on the lookout for investment pastures where its money is welcome, safe and earns a decent return. India also needs vast investment - about $1 trillion over the next 10-15 years - in infrastructure, green energy, transportation and heavy industry, says Ravi Bhoothalingam.
Modi, flanked by Trump, on Monday categorically rejected any scope for third party mediation on Kashmir.
Trump said the relationship with both India as well as the country's Prime Minister Modi "is great".
The US seems to be engaging in a game of brinkmanship where President Trump's visit has been used as 'leverage' to pressure India into agreeing to a trade deal, notes Kashish Parpiani.
