India is unlikely to retaliate against US tariffs on steel and aluminum, as they are not specifically targeted at the country. Instead, India is focusing on trade negotiations with the US and has implemented a safeguard duty to address issues related to Chinese imports.
India appears unlikely to respond with retaliatory tariffs in light of the United States’ newly implemented steeper tariffs on steel and aluminum. Historical context shows that during the Trump administration, India previously raised tariffs on US imports like almonds and apples in retaliation. However, the current tariffs are not explicitly directed at India, leading New Delhi to prioritize the ongoing trade negotiations with the United States, focusing on achieving a mutually beneficial agreement.
Amidst these developments, it is essential to recognize that India has introduced a safeguard duty, primarily aimed at counteracting the influx of Chinese imports. This strategic move reflects India’s broader goal of regulating trade and protecting its domestic industries from overwhelming foreign competition. Ultimately, India’s focus remains on negotiating a comprehensive trade deal with the United States instead of pursuing retaliatory actions related to these tariffs.
In conclusion, India’s response to the US’s increased tariffs on steel and aluminum is characterized by a strategic approach rather than retaliation. The emphasis lies in negotiating a favorable trade agreement with the US while the safeguard duty addresses concerns regarding Chinese imports. This reflects India’s commitment to fostering constructive trade relationships and protecting its domestic industries.
Original Source: www.moneycontrol.com
