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pranayd

· started a discussion

· 1 Months ago

information is wrong (Question: 617860.0 )

there are 30 items...the duty amounts to 240 million dollors

Question:

Consider the following statements India’s trade affairs with USA and identify which of the statement or statements is true?

  • India has notified higher tariffs on 29 items imported from United States (US).

  • These higher tariffs amounting to $240 million will come into effect from August 2018.

  • India is the largest manufacturer of steel and aluminum. 

Options:
A)

Only A 

B)

Only B 

C)

Only A & B 

D)

Only B & C

E)

All of the above

Solution:

  • India has notified higher tariffs on 29 items imported from United States (US). This is was in retaliation against US announcement imposing tariffs on steel and aluminium items — 25% and 10% respectively — imported from all countries to compensate from loss of revenue. These higher tariffs amounting to $240 million will come into effect from August 2018, leaving room for further discussions between US and India before new rates are implemented. It follows India’s notification to World Trade Organization (WTO) that it was imposing additional tariffs on 30 items. China is the largest manufacturer of steel and aluminum. 

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