India will likely not retaliate against new U.S. steel and aluminum tariffs, focusing on a beneficial trade deal instead. The safeguard duty aims to limit Chinese imports, supporting local industries.
India is currently not expected to retaliate against the increased tariffs imposed by the United States on steel and aluminum products. Unlike previous instances, such as during the Trump administration when India raised tariffs on American goods, these new tariffs are not specifically targeting India. Instead, India is concentrating on advancing negotiations for a trade deal with the U.S., aiming for a beneficial agreement for both nations.
The government’s decision to refrain from imposing retaliatory tariffs reflects its strategic focus on developing a robust trade relationship with the United States. The primary purpose of the safeguard duty imposed by India is to curb the influx of Chinese imports, ensuring the protection of domestic industries. This approach signifies New Delhi’s intent to address internal challenges while strategically navigating its international trade relations with the U.S.
In summary, India is unlikely to retaliate against the U.S. tariffs on steel and aluminum, emphasizing a focus on pursuing a favorable trade agreement with the U.S. The imposition of safeguard duties is mainly aimed at controlling the import of Chinese goods, demonstrating India’s commitment to protecting its domestic market without escalating tensions with the U.S.
Original Source: www.moneycontrol.com
