In turn, India had taken the US to the WTO challenging US duties on Indian steel products that threw up a mixed result for both sides. Trump’s repeated rhetoric about a high tariff regime citing India’s 75% tariffs over Harley-Davidson bikes forced New Delhi to substantially reduce customs duty on the iconic American motorcycle to 50%. Both sides had started negotiating a trade package beginning April 2018 after the US trade representative said that it was reviewing India’s GSP eligibility. Both sides may also remove the tit-for-tat tariff hikes after the US raised steel and aluminium tariffs. “It does not mean they will be soft or considerate to India, but the harsh rhetoric of calling India a ‘tariff king’ may be absent.

Source: Mint November 04, 2020 16:41 UTC