Meanwhile,
Trump puts customs duties india new:
Donald Trump imposed additional customs duties on Indian products on Wednesday 25%. However. Meanwhile, reproaching New Delhi for its Russian oil purchases, shortly before the entry into force of new surcharge for the main trade partners of the United States.
This surcharge is added to that of 25% which must enter into force at 12:01 am (04:01 GMT). Therefore. Therefore, at the same time as the customs duties that Donald Trump presents as “reciprocal”, and will only be effective in 21 days, according to a decree of the American president. Consequently, It will not apply to a number of products, which significantly reduces its scope.
Among the exemptions. Therefore. Moreover, there are in particular the products concerned by sectoral customs rights, such as steel and aluminum, or those which will soon be, such as pharmaceuticals trump puts customs duties india new or semiconductors.
This also concerns, in the immediate future, smartphones. For example, Apple, in particular, moves more and more its production of iPhone in India, hitherto manufactured in China.
The American president. however. Similarly, announced on Wednesday his desire to tax semiconductors 100%, without specifying the date of entry into force of this new sectoral surcharge.
New customs duties on Indian products aim to reduce Moscow’s ability to finance the conflict in Ukraine. Furthermore. presented in the decree as “an unusual and extraordinary threat to national security and foreign policy of the United States”.
In a statement. Moreover. the Indian Ministry of Foreign Affairs judged this surcharge “extremely regrettable”, stressing that “several other countries” bought Russian oil “in their own national interest”.
After China. India is the main Russian customer for its oil. which represented in 2024 almost 36% of trump puts customs duties india new its imports in this trump puts customs duties india new area, against around 2% before the start of the war in 2022, according to data from the Indian Ministry of Commerce.
For New Delhi. this choice wanted to be pragmatic while the production of the Gulf countries went primarily to Europe when it chose to do without Russian hydrocarbons. forcing India to seek other suppliers.
“This marks a low point in Indo-American relations,” said South Asia Initiative Director Farwa Aamer. “India does not want to question its relations with Russia”. but will be under pressure to find a solution with Washington.
– obvious economic impact –
If this surcharge constitutes a shock for India. it remains lower than the threat brandished for several weeks by Donald Trump to impose 100% customs duties on. products from countries buying Russian oil if Moscow refuses trump puts customs duties india new a cease-fire in Ukraine.
This decree occurred less trump puts customs duties india new than 24 hours before the entry into. force of customs duties targeting most of the trade partners of the United States. that Donald Trump justifies by the need, according to him, to rebalance the exchanges.
Several dozen of them must indeed see the surcharge applied to their products increase significantly Thursday. when they entered US territory, with a range ranging from 15% to 41%, Syria being the country targeted by the highest rate.
For India, the rate applied to its products entering the United States will initially be 25%.
The additional 25% planned by the new decree would bring it to the level of the rate. in force since Wednesday on Brazilian products. or 50%.
Initially spared, Brazil was finally targeted in retaliation for the prosecution trump puts customs duties india new launched against ex-president Jair Bolsonaro, ally of Mr. Trump. accused of an attempted coup after trump puts customs duties india new his defeat in the presidential election of 2022.
But due to the many exemptions provided for by the decree. only 36% of the country’s exports to the United States are really concerned, according to the Brazilian government.
As for the case of Japan. Washington and Tokyo seem to disagree on the details of the surcharges having to come into force.
The executive order signed by Mr. Trump indicates that Japanese products will be struck from Thursday of “reciprocal” from 15%. which are added to the customs duties previously already applied. What an American official confirmed on Wednesday to AFP on Wednesday.
Tokyo ensures. according to the daily Nikkei. having heard with Washington, however, so that this level of 15% is trump puts customs duties india new in reality the ceiling of the rights applied by integrating pre -existing rights, according to a method which already benefits from trump puts customs duties india new the EU.
In total. new customs surcharge should bring the average effective rate to almost 20% in the United States from Thursday. according to analysts at Pantheon Macroeconomics. This would constitute the highest rate applied to products imported since the early 1930s. according to the LAB budget of Yale University.
Posted on August 7 at 02:19 am, AFP
Trump puts customs duties india new
Trump puts customs duties india new
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