U.s. may impose fresh 12.5% tariffs on india
NEW DELhi, July 24 -- The US is expected to announce fresh tariffs under a new legal framework after a temporary 10% global levy on imports expires on Friday, with India likely facing an additional duty of up to 12.5% under a Section 301 investigation into forced labour, according to people familiar with the matter.
They said the measure is expected to be temporary for India and unlikely to dent its competitiveness in the US market because key rival exporting countries are also expected to face similar tariffs.
US Trade Representative (USTR) Jamieson Greer, in a testimony before the Senate Finance Committee on Tuesday (US time), said the Trump administration would unveil its "final responsive action" under the Section 301 investigation covering 60 trading partners.
"As soon as tomorrow, USTR will release its final responsive action on its Section 301 investigation of our top 60 trading partners' failure to address international trade in forced goods at their borders," Greer had said.
The Section 301 investigation, launched on March 12, examines whether trading partners have taken adequate measures to prevent the import of goods produced with forced labour.
On June 2, the USTR proposed imposing an additional tariff of up to 12.5% on imports from 54 countries, including India, while six others, including Indonesia and Pakistan, would face a proposed 10% duty. The final decision is expected one minute after Thursday (US time).
The proposed tariffs are part of the Trump administration's broader strategy of using trade measures to support domestic manufacturing and secure market access. The people cited above said India is expected to face tariffs similar to those imposed on competing exporters, including Vietnam, Malaysia, China, Bangladesh and Sri Lanka, limiting any erosion of its competitive position in the US market....
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