24 minutes agoIndia imposes reciprocal taxes on the US
Periskopi(7 years ago)
(7 years ago)Indian authorities have announced that from Sunday they will impose taxes on the 28 products produced in the United States, including almonds and apples. New taxes, some of which amount to 70 percent, have responded to Washington's refusal to exclude India from high taxes for [...]
New taxes, some of which range as high as 70 percent, have responded to Washington's refusal to exclude India from high taxes on the importation of steel and aluminum.
Earlier this month, United States President Donald Trump has also announced that he will remove India from the list of states with privileged trade treatment.
India imposed taxes up to 120 percent in June last year, but the launch of trade negotiations had contributed to their implementation being postponed indefinitely.
However, the Indian Finance Ministry said through official announcement that the new tax decision has been made to protect public interest.
During 2018, India and the United States have traded for $142 billion - seven times the equivalent of the year 2001.
On the other hand, President Trump has warned India that he will face sanctions if he makes purchases of fuels from Iran and if he buys system missiles “S-400” from Russia writes “BBC”
