New York CNN — Import taxes are set to spike under the incoming Trump administration, forcing Americans to pay more for everything from foreign-made sneakers and toys to food, according to new research. “President Trump will work quickly to fix and restore an economy that puts American workers first by re-shoring American jobs, lowering inflation, raising real wages, lowering taxes, …
US Republican presidential candidate Donald Trump, vowed to introduce a reciprocal tax if re-elected to power, claiming that India imposes the highest tariffs on foreign products with a smile. Trump emphasised that reciprocity is a key component of his plan to boost America's wealth, stating that the U.S. generally doesn't charge high tariffs, but many countries especially India impose heavy …
A steady decline in import tariff rates in manufacturing industries had been an important feature of India’s economic reforms during the 1990s and 2000s. During 2000-2011, India’s exports recorded high annual growth rates of 21% and 24%, respectively, for goods and services. The forthcoming budget should begin the process of cutting India’s high import tariff rates. It may be noted …
Geneva: The European Union has dragged India into a major trade dispute at the World Trade Organization. According to Brussels, customs duties imposed by India on various products, including cell phones, in the Information and Communications Technology Sector, had violated New Delhi’s scheduled tariff commitments at the WTO. According to the EU’s complaint, the list of products on which India …
Mumbai: The government said on Wednesday it is raising import tariffs on 19 “non-essential items,” marking a further tilt toward protectionism as it tries to reduce its widening current account deficit and tackle a sharp slide in the rupee. The new tariff structure, which goes into effect Thursday, will see the government raise customs duties on items such as air …