The retaliatory tariffs being imposed by countries like India and China are having an adverse impact on US agricultural products, an influential lawmaker said today as he urged the Trump administration to take steps to protect the interest of American farmers.
The Trump administration's decision in March to impose tariffs on aluminium and steel imports has triggered a trade war with several countries including China, which has announced retaliatory measures.
In April, Trump imposed an additional import tariff on some 1,300 Chinese products worth USD 50 billion and directed to look into another round of additional tariffs worth USD 150 billion. China was quick in drawing up trade retaliation options against the US.
India last month submitted a revised list of 30 items -- including motorcycle, certain iron and steel goods, boric acid and lentils -- to the WTO on which it proposes to raise customs duty by up to 50 per cent.
Congressman Dave Reichert, Chairman of the Ways and Means Subcommittee on Trade, said during a Congressional hearing on 'The Effects of Tariffs on US Agriculture and Rural Communities' that "US farmers, ranchers and growers right now are caught in the middle of international crossfire."
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