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 […]

Read more

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 […]

Read more

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 […]

Read more

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

guillaume-bolduc-259596-unsplash.jpg

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 […]

Read more

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, […]

Read more

China calls for U.S. restraint on trade protectionism over steel, aluminium tariffs

The United States should remain restrained on trade protection and follow multilateral trade rules, China’s foreign ministry said after Washington announced it would impose tariffs on imports of steel and aluminium. President Donald Trump said last week the United States would introduce a 25 percent tariff on steel imports and 10 percent for aluminium on […]

Read more