America-India Tariff War: India is now going to get a hand with 40 countries to compete with America’s tariff attack. It is planning to increase textile exports with all those countries.
India US trade war: America has been badly stunned by the way India is moving forward in today’s time. In such a situation, he decided to impose 50 percent tariff on India. Now after this move taken by the US, the Indian textile industry is suffering heavy losses. In such a situation, India is now trying to move its textile industry in the markets of 40 other countries to take water on the plan of Donald Trump.
In fact, according to officials in this case, India is going to launch this campaign for this with 40 big countries like Australia, Belgium, Canada, France, Germany, Italy, Japan, Mexico, Poland, Russia, South Korea, Turkey, UAE, Britain. Many big textile producers in India are seen closing due to a decrease in American imports, India is taking this step to raise them with this trouble.
For your information, let us know that America buys 29 percent of India’s total textile exports. Whereas the thing to note is that all 40 countries buy only 5-6 percent from India. Now India has started increasing this goal. India is not ready to give up before America in any way, it is going to give a befitting reply to every step of America.
After the tax attack by the US, India may be seen seeking carbon tax exemption from the European Union. EU has already given some tax exemption to America. Now India also expects such a step with it. EU’s Trade and Economic Security Commissioner, Commerce and Industry Minister Piyush Goyal can hold a meeting in this regard.