Trump Threatens to Impose Reciprocal Tax on India, China

Rolls of steel are stacked inside the China Steel Corporation factory

Rolls of steel are stacked inside the China Steel Corporation factory

"A war hurts both the instigator and those it is waged against".

"In the event of a trade war China will make the necessary and justified response".

"As China grows, the "China collapse theory" has collapsed and become an global laughing stock".

In fact, India will be largely unaffected by the tariffs except for the fact that major exporting countries that face tariff barriers in the United States may now divert their goods to India's large consumer market, affecting Indian producers. But the tariffs may be the first foray in the brewing American trade war with Beijing.

On the flip side, the largest United States import from India is pharmaceuticals ($7.4 billion in 2016) and a Trump tariff on this will simply make generic medicines more expensive for Americans (drugs imported from U.S are already expensive for Indians). "They may get some attention but soon dissipate", said Chinese Foreign Minister Wang Yi.

Citing the latest poll, Wang said over 50 percent of the American people have a favorable view of China and the figure has been rising steadily in recent years.

US Treasury Secretary Steven Mnuchin said earlier that the Trump administration was hoping to impose new steel and aluminium tariffs as quickly as possible.

Clinical India back to winning ways, steamroll Bangladesh — Twitter Reactions
After facing a humiliating defeat in the opening game against Sri Lanka , the team will try hard to return on the winning track. Chasing a below par total of 140, skipper Rohit Sharma fell cheaply once again as he was bowled by Mustafizur Rahman for 17.

China says its proposal urging South Korea and the United States to suspend joint military drills in exchange for North Korea stopping their nuclear tests, played a key role in the rapprochement between the two Koreas.

Trump's tweets follow China's moves to resolve the simmering trade tensions.

Touted as Chinese president Xi Jinping's ambitious project, the BRI focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe. But Washington has shown little interest in negotiating, with Liu's visit resulting in few major breakthroughs beyond a commitment to further talks on trade issues. "It is up to the parties involved to decide if, when and where the talks will be held". His departure leaves "nationalist" advisers like arch China skeptic Peter Navarro, author of Death by China, and Commerce boss Wilbur Ross with the president's ear.

US President Donald Trump further speaking about the reciprocal tax programme said that it would ensure "fair trade deals" for the United States. In Beijing, officials continue to search for a way out.

Trump also undercut his own pledge by carving out tariff exceptions for Canada and Mexico, the third and fourth largest U.S. trading partners. The surplus with the US stood at $21 billion in February, China's official data showed, more than double the $10.4 billion surplus registered in February of a year ago.

Speaking for the first time on bilateral ties this year, Wang said the global situation is experiencing its biggest change in a century and China and India must do everything to emphasise this and support each other and avoid mutual suspicion and attrition.

February's surplus did edge downwards from the $21.9 billion recorded in January and $25.6 billion from December.

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