India’s big relief from American tariff, White House announced; Trump’s tax attack on China

US Tariff War: The US President’s Office White House has issued an order to postpone the additional customs imposed on India by July 9 this year. According to this government order, the decision to impose additional fees on India has been postponed for 90 days. Earlier on April 2, US President Donald Trump had announced a duty on imported products from about 60 countries and a separate high duty on countries like India.

Trump’s move was expected to affect sales from shrimp to steel products in the world’s largest economy. The purpose of his move was to reduce America’s big trade deficit and promote domestic manufacturing. The US imposed an additional import duty of 26 percent on India which is lower than in competitive countries like Thailand, Vietnam and China. This order of fee hike came into effect from April 9 but Trump has now postponed it for 90 days.

This suspension is not applicable to China

However, this suspension of fees is not applicable to China besides Hong Kong, Macau. Along with this, the order of the White House states that 10 percent Aadhaar fee levied on the countries concerned will be applicable. According to the news agency PTI, a business expert said that 25 percent fee on steel, aluminum (effective from March 12) and vehicle and vehicle Kalpiza (from April 3) will also continue. Director General of Exporters Federation of Indian Export Organization (Fio) Ajay Sahai said that semiconductor, medicine and some energy are in the category of exemption on excise duty.

145 percent tariff imposed on China

At the same time, the White House has also confirmed that Washington’s %E on many products due to the increase in tariffs on Chinese goods by US President Donald Trump