India will not retaliate against U.S. tariffs on steel and aluminum, focusing instead on trade negotiations. The current tariffs are not aimed directly at India, differentiating this situation from past retaliations under the Trump era. The safeguard duty is intended primarily to reduce Chinese imports.
India is unlikely to respond with retaliation to the recent imposition of higher tariffs on steel and aluminum by the United States. Unlike previous instances under the Trump administration, where India levied tariffs on U.S. products in response, the current U.S. tariffs are not specifically targeted at India. Instead, New Delhi is prioritizing the advancement of a proposed trade deal with the U.S., seeking to create a mutually beneficial agreement.
The backdrop to this situation involves previous trade tensions, notably when India raised tariffs on U.S. goods such as almonds and apples. However, the present focus is on a strategic approach to international trade rather than immediate retaliatory actions. Officials indicate that the safeguard duty recently implemented primarily aims to curb imports from China rather than retaliate against the U.S.
In summary, India is refraining from retaliation to the U.S. tariffs on steel and aluminum, as these tariffs are not directed specifically at India. Instead, the Indian government is concentrating its efforts on negotiating a beneficial trade agreement with the United States, while safeguarding measures are in place to limit Chinese imports.
Original Source: www.moneycontrol.com
