Trade Tariffs

Trump said he would impose additional 10 per cent tariffs on goods from China and 25 per cent tariffs on all products from Mexico and Canada in posts to his Truth Social network on Monday

India may seek flexibility in the existing tariff concessions in sectors which are impacted by significant increase in imports, under the free trade agreement (FTA) review with the 10-nation Association of Southeast Asian Nations (ASEAN), an official said. The ASEAN official team is visiting India for the next round of review negotiations, which will start from November 19-22 here. The ASEAN-India Trade in Goods Agreement (AITIGA) was signed in 2009. "We may seek some flexibility in the tariff (or customs duty) concessions that have been given in the agreement. Some of the concessions can be taken back and can be given somewhere else because in some sectors we feel our domestic industry is badly getting hurt. We have domestic injuries in some sectors. We would like to do that in a minimum possible way," the official said. The domestic steel industry has time and again flagged concerns over a significant increase in imports from countries like China and misuse of FTA with ASEAN. In

The UK's Trade Remedies Authority (TRA) has initiated a transition anti-subsidy review of a countervailing measure on imports of polyethylene terephthalate (PET) plastics from India, to assess whether the nearly 13 per cent duties should continue to be applied. TRA, an independent arm's length body of the government's Department for Business and Trade, will consider whether the importation of the subsidised goods subject to review would be likely to continue or recur if the countervailing amount were no longer applied to those goods. It will also consider whether injury to the UK industry in the relevant goods would be likely to continue or recur if the countervailing amount were no longer applied to those goods. Countervailing measures are the UK's one of three trade policy tools to counter imports which are "causing or threatening injury" to domestic industry, the other two being anti-dumping and safeguard measures. Countervailing, or counteracting, measures address imported good

The commerce ministry is developing a platform for registering non-tariff barriers (NTBs) faced by exporters and taking up with the concerned countries for their resolution, a senior official said. At present, there is an information gap on these barriers particularly for small items. "We are making a portal so that we can prioritise all the NTBs. Traders will register their complaints and the ministry will pursue that," the official said. In cases where the barrier is impacting a large volume of goods will be prioritised for their redressal and action-taking. Economic think tank GTRI in its report has stated that India needs to act in a fast-track manner for the removal of NTBs, being faced by domestic exporters in different countries like the US, China and Japan, to achieve export target of USD 1 trillion for goods by 2030. The Global Trade Research Initiative (GTRI) has suggested a two-pronged strategy to mitigate the influence of NTBs on exports. It asked for upgrading domest

India, however, believes that such retaliations will eventually be detrimental to the trade on both sides

'The DGFT should also resolve the problem of exporters who have used the HSN Code as per Customs Tariff but have ticked the right box in the shipping bill to indicate their claim of RoDTEP benefits'

WTO's India review shows protectionism has alienated partners

Britain will suspend retaliatory tariffs imposed on US goods as part of a dispute over aircraft subsidies from Jan. 1, the trade department said

New Delhi insists review process must start before 2020 end, pushes for removal of barriers in existing deal

"India has long had a field day putting Tariffs on American products. No longer acceptable!" Trump tweeted

The effort to recruit allies to protest Beijing's trade policies comes as the Trump administration weighs broad tariffs against products made in China