US Tariffs Trigger Industry Pushback, India Plans Retaliatory Duties
US Tariffs Trigger Industry Pushback, India Plans Retaliatory Duties

US Tariffs Trigger Industry Pushback, India Plans Retaliatory Duties

News summary

The US under President Donald Trump has imposed significant tariffs on several countries including India, Taiwan, and China-linked regions, leading to strained trade relations and economic challenges. India is actively responding to a 50% US tariff on steel and aluminum by considering retaliatory tariffs under WTO rules, as negotiations stall over US demands to open sensitive sectors. The US tariffs have also adversely impacted Taiwanese industries, with labor groups warning of potential mass unemployment and urging government intervention to negotiate lower rates and provide subsidies. South and Southeast Asian countries, having become key alternative supply chain destinations amid earlier US-China trade tensions, now face high tariffs and the risk of being caught in the ongoing global trade conflicts. The Indian government has emphasized red lines in trade talks, refusing to compromise on agricultural and dairy sectors despite economic fallout in industries like auto and textiles. Overall, these tariffs reflect a protectionist US trade policy that complicates global trade dynamics and pressures affected nations to seek diplomatic and legal remedies.

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