While Trump talked of reciprocity, product-to-product parity on tariffs is not possible because items of export for both countries are not the same as imports, they pointed out. One form the US action could take is matching the tariffs that India imposes on some US products with a similar burden on some other products that India sells to the US.
Trump's comments that India imposes tariffs of 100% are also misleading, they noted. Only in some select products like automobiles and wines and spirits that the tariffs reach that level. Even the US has over 100% tariffs.
The outgoing Biden administration has imposed 100% tax on Chinese electric vehicles. "India's average tariff stands at 17%, significantly higher than the US's 3.3%, but comparable to countries like South Korea (13.4%) and China (7.5%)," according to an analysis by the Global Trade Research Initiative (GTRI).
Esta historia es de la edición December 19, 2024 de Financial Express Hyderabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 19, 2024 de Financial Express Hyderabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Account discrepancy to hit net worth'
EARLIER IN THE DAY, shares of IndusInd Bank plunged nearly 6% intraday to their lowest level since July 2022 after the RBI granted CEO Sumant Kathpalia only a one-year extension, against the board application for three years.
Sun to buy Checkpoint for $355 mn
THE DEAL WILL be made through an upfront cash payment of $4.10 per common share, a premium of about 66% to Checkpoint's last close on Friday, Sun Pharma said in an exchange filing.
In trade war with US, China deploys food as weapon
CHINESE TARIFFS ON a slew of American farm products have officially come into effect, the latest retaliation in the unfolding trade war between the world's top two economies.
NEP issue stalls Parliament as DMK MPs, Pradhan spar
The ongoing war of words between the ruling BJP and DMK led to disruptions in the Lok Sabha on Monday, with Union education minister Dharmendra Pradhan forced to withdraw certain remarks following protests by Tamil Nadu MPs.
Poverty of ambition
Zero tariffs for US drugs cost little but Indian firms must look beyond branded generics, seek R&D-driven growth
Record 115 MT wheat output seen
Taking Stock
Top realtors corner LRD loans at cheaper rates
WITH THEIR CREDIT profiles rising despite largely stagnant interest rates, top commercial property developers have been able to borrow against rent receivables at a rate lower by 75-to-100 basis points in the past year.
Parliamentary panel on railways calls for PPP push
TO REDUCE ITS dependence on gross budgetary support (GBS) from the central government, the Parliamentary Standing Committee on Railways has urged the ministry of railways to intensify its focus on public-private partnership (PPP) projects.
Cars24 Forays Into New Car Sales With Super App
Cars24 on Monday entered the new car sales space by launching a platform that aggregates automobile dealerships and manufacturers.
Noida Airport opening delayed to June qtr: Zurich Airport CFO
THE OPENING OF the Noida International Airport, which is running six months behind schedule, is slated for inauguration in the June quarter, a top official of Zurich Airport said.
