US Tariff Policy Creates Instability for India, Expert Warns
US tariff approach 'wobbly', creating instability for India: Expert
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Richard M. Rossow, a senior adviser at the Centre for Strategic and International Studies, criticized the US's inconsistent tariff approach, which he described as 'wobbly' and creating uncertainty for India. Recent US tariffs targeting imports linked to forced labor further complicate trade relations, affecting multiple countries including India.
- 01Richard M. Rossow highlighted that the US's tariff strategy appears inconsistent, causing uncertainty among global partners, particularly India.
- 02India faces significant challenges due to non-tariff barriers, including quality control orders and domestic manufacturing mandates.
- 03Recent US tariffs of 10% and 12.5% target goods from 60 countries, including India, due to concerns over forced labor.
- 04The US Trade Representative's actions are based on Section 301 of the Trade Act of 1974, addressing importations linked to forced labor.
- 05Rossow noted that Indian farmers have limited opportunities compared to their US counterparts, complicating agricultural trade negotiations.
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Richard M. Rossow, a senior adviser at the Centre for Strategic and International Studies, expressed concerns about the US's tariff approach, labeling it 'wobbly' and detrimental to trade stability with India. He pointed out that the US has applied tariffs inconsistently, with specific exceptions like those on Russian oil that have adversely impacted India. Rossow emphasized India's desire for stability in US tariff policies, particularly as negotiations continue regarding agricultural exports, where Indian farmers face significant disadvantages compared to US producers. Additionally, the US recently announced new tariffs of 10% and 12.5% on imports from 60 countries, including India, due to forced labor concerns. This action, taken under Section 301 of the Trade Act of 1974, aims to address the importation of goods produced with forced labor, further complicating trade relations. Rossow's insights underline the complexities and uncertainties in US-India trade dynamics.
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The new tariffs could lead to increased costs for Indian exporters, particularly in sectors vulnerable to forced labor accusations.
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