Donald Trump explodes tariff bomb on India: Imposes 10% tariff on products made with forced labour, action on Pakistan-Bangladesh too
Donald Trump Imposed 10% Tariff on India: Once again US President Donald Trump has dropped the tariff bomb on India. Donald Trump has announced to impose 10% additional tariff on 17 countries including India. America has announced to impose 10% tariff on products made with forced labour. Taking action on Pakistan-Bangladesh also, Trump has announced to impose 10 percent additional tariff.
The new rates have come into effect from Friday i.e. today itself. This decision has been taken by the US Trade Representative Office (USTR) after an investigation conducted under Section 301.
According to USTR, this action is being taken against those countries which have not taken adequate and effective steps to ban the import of products made with forced labour. India has been placed in the lower tariff slab of 10 percent. Whereas on some other countries, additional duty up to 12.5 percent will be imposed.
10% tariff on Pakistan-Bangladesh also
Apart from India, Argentina, Bangladesh, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, Indonesia, Jordan, Malaysia, Mexico, Pakistan, Sri Lanka, Trinidad and Tobago and Britain have also been placed in the group with 10 percent additional tariff. At the same time, additional duty up to 12.5 percent has been imposed on many other countries.
India increases detection and monitoring of products related to forced labor
According to sources, in view of the fear of 12.5 percent tariff, India had also prepared guidelines for identification and monitoring of products related to forced labor, so that international labor standards could be ensured. However, products like steel, aluminium, which already have separate sectoral tariffs, will not be affected by this new decision. Energy products, fertilizers and trade under the USMCA are also excluded from the additional duty.
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