India decided to initiate retaliation against Trump Tariff after the US President decided to increase duties on steel and aluminum imports. This announcement comes in the same way as the US-China trade deal sees positive growth, increasing doubt on the US and a policy of America.
Trump Tariff: India does not give Donald Trump’s craze
US President Donald Trump has greatly dialed the US-China trade war after increasing 145% in April. On the other hand, progress over the US-India Trade Dialogue is hitting a barrier as India planned to impose tariffs on several products as a vertical response to Trump tariffs on American steel and aluminum imports.
In March, the United States introduced 25% tariff on steel and aluminum imports. As the world’s second largest crude steel producer, India informed the WTO that these tariffs would affect the US exports of $ 7.6 billion to the US.
US-India Trade War Tension increased at a time when the two countries were discussing a bilateral trade agreement (BTA), which is likely to end on 8 July. This will be 25% trump tariff kick on Indian imports in the US, given the 90-day ex-gratia period, just before kick.
President Trump announced agreements with the UK and China in the last week, India, a prominent economic partner, waits at the shore. On Monday, Trump declared a “total reset” in the US-China trade deal after public release of the trade deal between the two nations.
This can affect India’s competitive edge in attracting global firms ready to potentially move from China. This dialing back Trump tariff on China “China Plus a” strategy reduces strategy.
Crypto market continues upside down
Amidst these broad macro events, the Crypto market continues its upside down, Bitcoin value After leaving back on Tuesday, jump back from 2% to $ 103,500. Altcoins are leading even more strength with ethereum (eth), leading the pack with 9% profit. Other Top altcoins Today, 4-10% have been received like XRP, Solana (SOL), DOGECOIN (DOGE), and Cardano (ADA).
Bhushan Akolkar
Bhushan is a Fintech enthusiast with a deep understanding of financial markets. His interest in economics and finance has inspired him to focus on emerging blockchain technology and cryptocurrency markets. He is committed to continuously learning and is inspired by sharing the knowledge he receives. In his spare time, Bhushan enjoys reading a thriller fiction novel and sometimes examines his culinary skills.
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