Thursday, June 27, 2019

Govt sources refute Trump's claim, says India's tariffs are not that high

Company News

India's taxes are not unreasonably high contrasted with other creating nations, government sources told Reuters on Thursday, responding to United States President Donald Trump's call to pull back what he said were high levies.
Prior Trump tweeted that he anticipated gathering Indian Prime Minister Narendra Modi at the G20 summit in Japan, however said that for a considerable length of time India had put "high duties against the United States". Including: "This is unsatisfactory and the duties must be pulled back!" This month, India slapped higher duties on 28 US items in counter for Washington's withdrawal this long stretch of tax unhindered commerce for certain Indian merchandise.
India's duties are in accordance with the World Trade Organization administers, the administration sources stated, including that US levies a few things were a lot higher than India's.
"I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high tariffs against the United States, just recently increased the tariffs even further," Trump said on Twitter. "This is unacceptable and the tariffs must be withdrawn!" said Trump, who will meet Modi at this week's G20 summit in Japan.
Trump's remarks could further worsen a trade row that has led to tit-for-tat tariffs from India and the United States and created an unease over the depth of their security alliance.

 US Secretary of State Mike Pompeo, who was in New Delhi on Wednesday, sought to reduce heightened trade tension with India, promising a renewed focus on negotiating better ties, but giving few specifics of how they would overcome disputes over trade and investment.Trade between the United States and India stood at about $142.1 billion in 2018.

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