Not a great start for India's importers and exporters in the New Year

Donald Trump, who will take over as President of the United States, has threatened to hike import tariffs across the board, and impose high tariffs on imports from China, Canada, Mexico and India

The importers ended the last year with apprehensions about more non-tariff barriers and the exporters began the new year with worries about a more difficult global trading environment and withdrawal of some government support.

 

Last week, the government imposed minimum import prices for soda ash and brought low ash metallurgical coke under import licensing.

 

The Director General of Trade Remedies (DGTR) issued various notifications relating to imports of polyvinyl chloride resin, rubber vulcanisation chemical sulfenamide accelerators, untreated fused silica, halo-butyl rubber, soft ferrite cores, and toluene di-isocyanate. Earlier in the year, the government had brought more items under import licensing