IMF warns against rate cuts, currency intervention to improve trade balance

The International Monetary Fund(IMF) has warned the United States and China that higher bilateral tariffs are unlikely to reduce aggregate trade imbalances as they mainly divert trade to other countries. Instead,they are likely to harm both domestic and global growth by affecting business confidence and investment and disrupting global supply chains. The IMF has also… Continue reading IMF warns against rate cuts, currency intervention to improve trade balance

China threatens to retaliate against Trump tariffs

China has warned of retaliation against U.S. President announcement on imposing a fresh 10% tariff on another $300bn of Chinese goods. Tariffs are a tax on imports.They are typically charged as a percentage of the transaction price that a buyer pays to a foreign seller. The US had already applied tariffs of 25% on $250bn… Continue reading China threatens to retaliate against Trump tariffs

Indian tariffs not acceptable

The US President has said that India’s tariff regime is no longer acceptable. India had imposed long pending retaliatory tariffs on 29 US products after US had withdrawn Generalized system of preferences (GSP) for Indian exporters. GSP is a preferential tariff system extended by developed countries to developing countries.It is a preferential arrangement in the… Continue reading Indian tariffs not acceptable

US drags India to WTO over duty hike on 28 American goods

The US has dragged India to the World Trade Organization(WTO) for according less favorable treatment to its products. India had levied higher tariffs on American products in response to the US imposing a global additional tariff of 25% and 10% on import of steel and aluminium product respectively. The US has said that the additional… Continue reading US drags India to WTO over duty hike on 28 American goods

Donald Trump demands withdrawal of India’s ‘unacceptable’ tariff hike

The US President has demanded that India should withdraw the retaliatory tariffs calling the duties unacceptable. India had imposed long pending retaliatory tariffs on 29 US products after US had withdrawn Generalized system of preferences (GSP) for Indian exporters. This action came a year after the notification for the retaliatory tariffs was issued in 2018… Continue reading Donald Trump demands withdrawal of India’s ‘unacceptable’ tariff hike

India to impose retaliatory tariffs on 29 U.S. goods from June 16

India has decided to impose the long pending retaliatory tariffs on 29 US products after US had withdrawn Generalized system of preferences (GSP) for Indian exporters. This action comes a year after the notification for the retaliatory tariffs was issued in 2018 in response to penal duties imposed on Indian aluminium and steel by the… Continue reading India to impose retaliatory tariffs on 29 U.S. goods from June 16

‘China getting decimated by tariff war’

The US President has said that the US threat to impose tariffs on Mexico has forced the country to agree to stronger immigration enforcement.He has predicted the same strategy will be successful with China. The US President had slapped tariffs on products from key trading partners China,Canada,Mexico and the European Union in order to push… Continue reading ‘China getting decimated by tariff war’

Trump calls off tariffs against Mexico

The US President has said that tariffs on Mexican goods will be indefinitely suspended after US and Mexico were able to reach a deal on immigration enforcement. Under the deal,Mexico agreed to (a)Deploy its National Guard throughout the country and (b)Take decisive action to tackle human smuggling networks On the other hand,the US agreed to… Continue reading Trump calls off tariffs against Mexico

China hits back,imposes tariff hike on U.S. goods worth $60 bn

China has decided to impose tariffs on $60bn of US goods extending a bilateral trade war.This move comes after the US had more than doubled the tariffs on $200bn of Chinese imports. The United States and China were discussing a trade deal to end the trade war.However,the latest round of US-Chinese trade negotiations has ended… Continue reading China hits back,imposes tariff hike on U.S. goods worth $60 bn

Trump orders tariff hike on remaining Chinese imports

United States President has decided to raise tariffs on almost all imports from China which are valued at approximately $300 billion. This is in addition to the Chinese imports worth $200 billion on which US had increased the import duty from 10% to 25%. The United States and China are currently discussing a trade deal.The… Continue reading Trump orders tariff hike on remaining Chinese imports