Ever since Donald Trump became the president of the United States, he has been threatening to impose tariffs on countries around the world. India has taken a big step in this direction before the tariff imposed by them. India has imposed tariffs on neighboring country China. India has imposed anti-dumping duty on four products in the neighboring country this month, including vacuum flask and aluminum foil, so that local companies can be protected from cheap imports from China.
Why did the tariff have to be imposed?
This duty was imposed because these products were being exported from China to a lower price than the normal price in India. These products include soft ferrite core, vacuum insulated flask, aluminum foil and trichloro isosenic acid. The Central Board of Indirect Taxes and Customs stated in different notification that duty will be imposed for five years on the import of soft ferrite core, vacuum insulated flask and trichloro isococconated acid. Aluminum foil imposed a temporary anti-dumping duty of up to $ 873 per tonne for six months. The duty has been imposed following the recommendations of DGTR (Directorate General of Trade Remedies) of the Ministry of Commerce.
Trump showed gentleness on the tariff
On the other hand, investors living in fear of Donald Trump’s tariff trap have been harassed for the past one week. Trump has given hints 2 weeks before the date of April 2nd, which will bring prosperity to the Indian market. The US President has clearly stated that he can be somewhat ‘flexible’ on mutual tariffs. This statement of Trump, which has been threatening many countries, including India, has so far indicates a U-turn. Trump is constantly saying that from April 2, the same kind of tariff will be imposed on imports of different countries as those countries will impose exports from the United States.
