The president of the United States, Donald Trump, said on Monday, September 1 that India proposed to abolish customs duties applied to US products on their ground.
“Now they propose to reduce their customs duties to zero, but it happens late. They should have done it years ago,” said Donald Trump in his social network truth, while last week, the United States doubled the customs tasks of most Indian products to take them to 50%.
The United States is the first market for Indian exporters. Exports of the highly intensity of the work sectorsLike jewels and clothes, it could decrease up to 90% according to a Bloomberg study due to the increase in customs barriers.
Some Indian companies are looking for forms of derivation and could develop their activity abroad, especially in Africa.
Growth tensions
The Indian embassy in Washington did not react to Donald Trump’s comments immediately. The US president accuses New Delhi, through Your Russian oil purchasesto finance the war fought by Moscow in Ukraine. The customs tasks imposed by the United States on Indian products increased from 25% to 50% on August 27.
The commercial war caused by Donald Trump undermined relations between India and the United States, while Washington hoped to trust New Delhi to counteract China.
Visiting Beijing for the first time in seven years, Narendra Modi, the Indian Prime Minister, on the contrary, showed his proximity to Xi Jinping.
Source: BFM TV
