Us tariff war: The US President’s Office White House has issued an order to postpone the additional customs imposed on India by July 9 this year. According to this government order, the decision to impose additional fees on India has been postponed for 90 days. Earlier on April 2, US President Donald Trump had announced a duty on imported products from about 60 countries and a separate high duty on countries like India.

Trump’s move was expected to affect sales from shrimp to steel products in the world’s largest economy. The purpose of his move was to reduce America’s big trade deficit and promote domestic manufacturing. The US imposed an additional import duty of 26 percent on India which is lower than in competitive countries like Thailand, Vietnam and China. This order of fee hike came into effect from April 9 but Trump has now postponed it for 90 days.

This suspension is not applicable to China

However, this suspension of fees is not applicable to China besides Hong Kong, Macau. Along with this, the order of the White House states that 10 percent Aadhaar fee levied on the countries concerned will be applicable. According to the news agency PTI, a business expert said that 25 percent fee on steel, aluminum (effective from March 12) and vehicle and vehicle Kalpiza (from April 3) will also continue. Director General of Exporters Federation of Indian Export Organization (Fio) Ajay Sahai said that semiconductor, medicine and some energy are in the category of exemption on excise duty.

145 percent tariff imposed on China

At the same time, the White House has also confirmed that Washington’s %E on many products due to the increase in tariffs on Chinese goods by US President Donald Trump

Us tariff war: US President Donald Trump has teased tariff war, but he is constantly seen taking U-turn. On April 2, he put a tariff on all countries and described that day as Liberation Day, but on 9 April, he posted his decision on 9 April. He has imposed 125 percent heavy duty on China. Since then, many countries have been thinking about doing business from America.

In the midst of all this, after reducing some charges from President Donald Trump, the Economic Advisor of the White House Kevin Haset said on Thursday that the US is considering the proposals of 15 countries on tariff agreements and some of them are close to compromise. “USTR has informed us that there are now 15 countries that we have been studying and considering and deciding whether they are sufficient to present the President,” Haset told reporters at the White House.

90 days ban on increase in tariff

The global stock markets on Thursday saw a dramatic rise in the global stock markets after US President Donald Trump announced a 90 -day ban on a huge increase in tariffs. However, China was excluded from this ban. The move raged in investors in Asia and Europe, while there was uncertainty on the situation of Beijing.

What did WTO say on tariff war?

The World Trade Organization (WTO) has feared a serious damage to the global economic scenario between the growing trade tension between the US and China. WTO Director General Nagoji Okonzo-Ewela said that the negative comprehensive economic impact of this global trade uncertainty will not be limited to the US and China only but will also see their impact to other economies, especially the least developed countries. The trade between the US and China in the world trade is about three percent. This shows that any kind of stress in the trade relations between the two countries can cause major losses for global trade.

In the last few days, two top economies of the world are continuously levying each other, due to which the trade war is deepening. While the US has announced a fee of 125 percent on China, China has said to impose 84 percent fee on it.

Also read: China said on tariff war- ‘The path will not come out of threats and blackmail’; Trump praised Jinping, said- ‘She smart’