India has proposed new tariffs on select US goods as its first retaliation against President Donald Trump라이브 바카라 steel and aluminum tariffs, according to reports from Bloomberg and Reuters. The proposed measures, detailed in a document submitted to the World Trade Organization (WTO), come as the two nations edge closer to finalizing a trade deal.
The document, dated May 12, states that India라이브 바카라 move involves suspending certain concessions and increasing tariffs on selected US products. However, it did not specify which goods would be targeted.
This action follows the imposition of 25 percent tariffs by the US on steel and aluminum imports in March, a policy that was initially introduced in 2018 during Trump라이브 바카라 first term. The US tariffs have been a source of tension between the two countries, with India claiming that these duties impact $7.6 billion worth of Indian exports to the US.
In addition to the steel and aluminum levies, Trump라이브 바카라 administration has threatened to impose 26 percent reciprocal tariffs on Indian goods, exacerbating trade friction. Despite these tensions, India is still in negotiations with the US to finalize a trade deal, with New Delhi proposing a reduction in its tariff gap by two-thirds.
India has some of the world라이브 바카라 highest import tariffs, and Trump has previously criticized the country as a “tariff abuser.” Last month, India imposed temporary 12 percent tariffs on cheap steel imports, mainly from China, to protect its domestic steel industry.
The proposed retaliatory tariffs come at a critical time, as both countries work towards a broader free trade agreement, expected to be finalized by the fall. However, experts warn that this retaliation could complicate negotiations.
