Global News

India seeks to join China in dispute over U.S. tariff hikes

India seeks to join China in dispute over U.S. tariff hikes

President Donald Trump's administration has said the steel and aluminium tariffs were needed on national security grounds and are therefore permitted under worldwide trade law.

China, which too featured in the list of countries penalised with higher duties on import of steel and aluminium on 23 March, announced higher tariffs on a number of items imported from the USA in retaliation.

Traders have also suggested that USA sanctions on Russian Federation could now expand to affect nickel, which has seen its price rise more than 10 percent this week.

Mexico and Canada - U.S. trading partners under the NAFTA agreement - are among countries that have won temporary exemptions to the otherwise blanket tariffs on U.S. imports of aluminium and steel.

With the U.S. refusing to roll back the higher duties on steel and aluminium imports from India, the latter has dragged it to the World Trade Organisation (WTO) and has sought discussions on adequate compensation for the losses.

Home Office 'failed to foresee policy's awful Windrush effects'
It has seen some - who might never have felt the need to apply for a United Kingdom passport before - left without the documentation now required by officials.

This measure could predict an investigation into Brussels, which will aim to clarify whether batches of metal are shifted to the European Union after USA tariffs.

The tariffs on the goods have been billed as a penalty for Beijing forcing USA companies to hand over technology to obtain access to China's market.

"We have not offered the United States anything", she said this morning. "We are not going to offer them anything to get exceptions from tariffs that we consider are not in compliance with the WTO", she said, referring to global trade's governing body, the World Trade Organization.

"We expect to be permanently and unconditionally exempted from these measures".

Malmstrom also expressed concern about trade tensions between the US and China, describing a possible escalation as "something that could be very worrisome for the global economy".


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