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India to look for new strategy as US- China trade war continues

The trade war between US and China which is generally looked upon as something not very positive to the global trade is likely to force India to look for alternative markets.

India looks to the opportunity of trebling its Cotton exports to China in the wake of 25 percent import tax on 106 commodities, including cotton, from the US.

The US slapping of 25 percent tariff on steel and 10 percent on aluminium imports does not seem to help improve the relations with the US which has not included India in the exempted list which has EU, Australia, Argentina, Brazil, Canada, Mexico and South Korea.

This move of US has pushed India to consider moving to WTO dispute resolution committee to challenge the US duty hike. The issue becomes important as the US is also threatening to drag India to WTO for a number of export promotion schemes. The US says India is subsidizing exports of a number of goods.
China has already moved the WTO forum against US duties on steel and aluminium. A powerful US, however, has weakened the WTO on many issues. It has also made the UN having a less effective look. The US moves are likely to hit handicraft, handloom and garment and some farm goods exports.

 

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