India Takes First Step In Response To Trump's Trade War

Bloomberg revealed the details.

India has proposed imposing duties on some U.S. goods in response to the steel and aluminum duties imposed by Washington. The decision was the first retaliation to U.S. President Donald Trump's trade war, although the countries are moving closer to a trade deal.

The Bloomberg writes that India has notified the World Trade Organization that the U.S. duties on metals are "safeguard measures" that will negatively impact trade. New Delhi reserves the right to "suspend concessions or other commitments" as a retaliatory measure to the US duties. The move was India's first retaliatory measure.

"India's latest WTO action comes at a sensitive moment. New Delhi and Washington are exploring a broader free trade agreement and these retaliatory measures could cast a shadow over the negotiations," said Ajay Srivastava, founder of think tank Global Trade Research Initiative.

According to the WTO notification, India said Trump's duties on steel and aluminum would affect $7.6 billion worth of Indian exports, of which the duty would amount to $1.91 billion.

"Accordingly, India's proposed suspension of concessions will result in an equivalent amount of duties levied on products manufactured in the United States," the notice said, without specifying the products affected.

Sources said trade was never discussed with U.S. officials in a series of conversations leading up to the truce with Pakistan.

You can support the website Charter97.org

MULTI-CURRENCY ACCOUNT FOR ASSISTANCE:

Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims

You can contact us by the e-mail charter97@gmail.com