India says big no to RCEP as market access and tariff concerns not answered

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India has decided to not join the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal on grounds that its key concerns over the agreement have not been addressed.  Prime Minister Narendra Modi said in Bangkok that the current form of the RCEP Agreement “does not fully reflect the basic spirit and the agreed guiding principles” […]

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Andhra Pradesh govt order puts Rs 21,000 crore renewables sector debt at risk: CRISIL

The Andhra Pradesh (AP) government’s move to review and bring down the purchase cost of wind and solar energy could aggravate the problem of delayed payments from distribution companies and stress almost 5.2 GW of renewables projects with estimated debt exposure of over Rs 21,000 crore, credit rating agency CRISIL Research said. Nearly half of […]

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India levies retaliatory tariffs on 28 US products

Finally, after deferring retaliatory tariffs on the US for months, India has decided to impose higher tariffs on 28 American products including almonds, apples and walnut effective June 16, the government said in a notification. The retaliatory tariffs, triggered by the US announcing higher duties on Indian steel and aluminium last year, were deferred multiple […]

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India’s retaliatory tariffs to hit US exports worth $900 million – report

India’s proposed retaliatory tariffs against US agricultural products including apples, almonds and lentils will have an adverse impact on American exports worth nearly $900 million, according to the latest US Congressional report. India last year announced higher import duties on many US products like apples, almonds, walnuts, chickpeas and lentils in retaliation to President Donald […]

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Tariffs help US steel prices but fabrication margins fall, says Fitch

Import tariffs have contributed to positive supply/demand and pricing dynamics for the US steel industry due to less competition from cheaper imports, according to Fitch Ratings and CRU Group. US steelmakers continue to experience strong revenue and cash flow growth driven by higher utilization rates and selling prices, Fitch said, adding that the improved earnings […]

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Trade war escalation would knock 0.4% off world growth, says Fitch

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An escalation of global trade tensions that results in new tariffs on USD2 trillion in global trade flows would reduce world growth by 0.4% in 2019, to 2.8% from 3.2%, Fitch Ratings said in its latest “Global Economic Outlook” baseline forecast. The US, Canada and Mexico would be the most affected countries. The imposition of […]

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China scraps import tariffs on soybean from India, Asia-Pacific nations

China will reduce tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from the current three per cent to zero, starting from July 1, China’s central cabinet announced. Imported products such as chemicals, agricultural products, medical supplies, clothing, steel and aluminium products from these countries will also enjoy certain tariff reductions, […]

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