US import tariffs on steel, aluminium: India hits back, to suspend concessions on 30 products

Darth Malgus

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http://www.msn.com/en-in/news/newsi...-30-products/ar-AAyIBPq?li=AAaeRVN&ocid=ientp

Responding to the US import tariffs on certain steel and aluminium products, India has decided to suspend concessions on 30 products being imported from the US. In a notification to the World Trade Organisation (WTO) on June 14, India emphasised that the tariffs will be substantially equivalent to the amount of trade affected due to the US’ measures. The products are likely to include motorcycles, certain iron and steel goods, boric acid and lentils.

“The proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the United States, based on the measures of the United States,” the notification read. “India wishes to clarify that suspension of concessions shall be equivalent to the amount of trade affected by the United States’ measures.”

© express web desk Ships unload containers at the Jawaharlal Nehru Port. (Express Photo/Prashant Nadkar/File)


“India reserves its right to further suspend substantially equivalent concessions and other obligations based on the trade impact resulting from the application of the measures of the US,” it added.

According to news agency PTI, US’ decision to hike import duties will have an impact of about $241 million — $198.6 million on steel and $42.4 million on aluminium. India exports only about 4 per cent of its steel and 2 per cent of aluminium to the US. India is looking to hit back with tariffs amounting to the same.

India notified World Trade Organisation of its decision to suspend concessions to US on 30 products, after safeguard measures imposed by US on imports of certain articles. India clarified that suspension of concessions shall be equal to amount of trade affected by US’ measures. pic.twitter.com/SAyY6HWYsf

— ANI (@ani) June 16, 2018
Earlier this year, US President Donald Trump announced a 25 per cent and 10 per cent tariff on imported steel on aluminium respectively from all countries, except Canada and Mexico. US is the world’s largest steel-consuming nation. Trump’s announcement, in line with his America First policy, sparked fears of a trade war after countries began mulling imposing their own tariffs.
 

Darth Malgus

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First picking a fight with Canada, then a Trade war with China, and now India too ?
 

Haldiram

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http://www.msn.com/en-in/news/newsi...-30-products/ar-AAyIBPq?li=AAaeRVN&ocid=ientp

Responding to the US import tariffs on certain steel and aluminium products, India has decided to suspend concessions on 30 products being imported from the US. In a notification to the World Trade Organisation (WTO) on June 14, India emphasised that the tariffs will be substantially equivalent to the amount of trade affected due to the US’ measures. The products are likely to include motorcycles, certain iron and steel goods, boric acid and lentils.

“The proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the United States, based on the measures of the United States,” the notification read. “India wishes to clarify that suspension of concessions shall be equivalent to the amount of trade affected by the United States’ measures.”

© express web desk Ships unload containers at the Jawaharlal Nehru Port. (Express Photo/Prashant Nadkar/File)


“India reserves its right to further suspend substantially equivalent concessions and other obligations based on the trade impact resulting from the application of the measures of the US,” it added.

According to news agency PTI, US’ decision to hike import duties will have an impact of about $241 million — $198.6 million on steel and $42.4 million on aluminium. India exports only about 4 per cent of its steel and 2 per cent of aluminium to the US. India is looking to hit back with tariffs amounting to the same.

India notified World Trade Organisation of its decision to suspend concessions to US on 30 products, after safeguard measures imposed by US on imports of certain articles. India clarified that suspension of concessions shall be equal to amount of trade affected by US’ measures. pic.twitter.com/SAyY6HWYsf

— ANI (@ani) June 16, 2018
Earlier this year, US President Donald Trump announced a 25 per cent and 10 per cent tariff on imported steel on aluminium respectively from all countries, except Canada and Mexico. US is the world’s largest steel-consuming nation. Trump’s announcement, in line with his America First policy, sparked fears of a trade war after countries began mulling imposing their own tariffs.
The markings in red are absolutely savage. Good move India!

“India wishes to clarify that suspension of concessions shall be equivalent to the amount of trade affected by the United States’ measures.”

Teri keh ke loonga. :megusta:
 

Razor

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First picking a fight with Canada, then a Trade war with China, and now India too ?
Don't forget EU and russia...
Instead of concentrating on chinchin he's shooting every direction..
 

Darth Malgus

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https://gulfnews.com/business/secto...ffs-shifts-some-production-overseas-1.2242064

Milwaukee: Harley-Davidson, up against spiralling costs from tariffs, will begin to shift the production of motorcycles headed for Europe from the US to factories, to overseas facilities.:laugh:
The European Union on Friday began rolling out tariffs on American imports like bourbon, peanut butter and orange juice. The EU tariffs on $3.4 billion (Dh12.4 billion) worth of US products are retaliation for duties the Trump administration is imposing on European steel and aluminium.

President Donald Trump has used Harley-Davidson as an example of a US business that is being harmed by trade barriers. Yet Harley has warned consistently against tariffs, saying they would negatively impact sales.
Harley-Davidson Inc. sold almost 40,000 motorcycles in the Europe Union last year, generating revenue second only to the United States, according to the Milwaukee company.

The maker of the iconic American motorcycle said in a regulatory filing Monday that EU tariffs on its motorcycles exported from the US jumped between 6 per cent and 31 per cent, which translates into an additional, incremental cost of about $2,200 per average motorcycle exported from the US to the EU.

“Harley-Davidson maintains a strong commitment to US-based manufacturing which is valued by riders globally,” the company said in prepared remarks. “Increasing international production to alleviate the EU tariff burden is not the company’s preference, but represents the only sustainable option to make its motorcycles accessible to customers in the EU and maintain a viable business in Europe. Europe is a critical market for Harley-Davidson.”
Harley-Davidson will not raise its prices to avert “an immediate and lasting detrimental impact” on sales in Europe, it said. It will instead absorb a significant amount of the cost in the near term. It anticipates the cost for the rest of the year to be approximately $30 million to $45 million.

Harley-Davidson said that shifting targeted production from the US to international facilities could take at least nine to 18 months to be completed.

The company is already struggling with falling sales. In January, it said it would consolidate its Kansas City, Missouri, plant into its York, Pennsylvania, facility. US motorcycle sales peaked at more than 1.1 million in 2005 but then plummeted during the recession.

More potential pitfalls for Harley-Davidson and other US manufacturers could be on the way.
Last week German automaker Daimler AG cut its 2018 earnings outlook, a change that it says is partly due to increased import tariffs for US vehicles in China. Daimler produces vehicles in the US

On Monday, the vice president of the European Union’s governing body said that Europe and China will form a group aimed at updating global trade rules to address technology policy, government subsidies and other emerging complaints in a bid to preserve support for international commerce.

European Commission Vice President Jyrki Katainen said unilateral action by US President Donald Trump in disputes over steel, China’s technology policy and other issues highlighted the need to modernise the World Trade Organisation to reflect developments in the world economy.

The Wall Street Journal reported that the Trump administration plans to impose curbs on Chinese investment in American technology companies and high-tech exports to China.

 

nimo_cn

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Don't forget EU and russia...
Instead of concentrating on chinchin he's shooting every direction..
as much as indian consider America its defacto ally, the Americans disagree.
 

Icarus

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We don't consider Americans as "allies" so don't post baits...
Maybe not here, but most right-wing nuts (especially the religious kind in India) consider America the holy land next only to Israel.
 

MrPresident

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as much as indian consider America its defacto ally, the Americans disagree.
Nope we consider only Russia and Israel as allies.. US can never be anyone's allies including Japan and Europe...

Sent from my Moto G (5) Plus using Tapatalk
 

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