Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Egypt's SCZONE welcomes Zhejiang Province delegation for trade talks    Beltone Venture Capital partners with Citadel International to manage $30m startup fund    S. Africa to use contingency reserves to tackle debt    Gaza health authorities urge action for cancer, chronic disease patients    Transport Minister discusses progress on supplying new railway carriages with Hungarian company    Egypt's local gold prices see minor rise on April 18th    Expired US license impacts Venezuela crude exports    Taiwan's TSMC profit ups in Q1    Yen Rises, dollar retreats as G7 eyes currency calm    Egypt, Bahrain vow joint action to end Gaza crisis    Egypt looks forward to mobilising sustainable finance for Africa's public health: Finance Minister    Egypt's Ministry of Health initiates 90 free medical convoys    Egypt, Serbia leaders vow to bolster ties, discuss Mideast, Ukraine crises    Singapore leads $5b initiative for Asian climate projects    Karim Gabr inaugurates 7th International Conference of BUE's Faculty of Media    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    Eid in Egypt: A Journey through Time and Tradition    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Tourism Minister inspects Grand Egyptian Museum, Giza Pyramids    Egypt's healthcare sector burgeoning with opportunities for investors – minister    Egypt starts construction of groundwater drinking water stations in South Sudan    Russians in Egypt vote in Presidential Election    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Egypt's powerhouse 'The Tank' Hamed Khallaf secures back-to-back gold at World Cup Weightlifting Championship"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    Egypt builds 8 groundwater stations in S. Sudan    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



U.S. President Trump demands India withdrawal
Published in Amwal Al Ghad on 27 - 06 - 2019

U.S. President Donald Trump on Thursday demanded India withdraw retaliatory tariffs imposed by New Delhi this month, calling the duties "unacceptable" in a stern message that signals trade ties between the two countries are fast deteriorating.
India slapped higher duties on 28 U.S. products after the United States withdrew tariff-free entry for certain Indian goods. Washington is also upset with New Delhi's plans to restrict cross-border data flows and impose stricter rules on e-commerce that hurt U.S. firms operating in India.
"I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high tariffs against the United States, just recently increased the tariffs even further," Trump said on Twitter.
"This is unacceptable and the tariffs must be withdrawn!" said Trump, who will meet Modi at this week's G20 summit in Japan.
Government sources rejected Trump's argument, saying Indian tariffs were not that high compared to other developing countries and U.S. tariffs on some items were much higher.
India's trade ministry did not immediately respond to a Reuters email seeking comment.
Trump's tweet came hours after U.S. Secretary of State Mike Pompeo left New Delhi after meeting Modi. Pompeo had said the nations were "friends who can help each other all around the world" and the current differences were expressed "in the spirit of friendship".
In one tweet, though, Trump may have badly undermined Pompeo's efforts to reduce friction between the two countries.
Trump in May scrapped trade privileges for India under the Generalized System of Preferences (GSP), under which New Delhi was the biggest beneficiary that allowed duty-free exports of up to $5.6 billion.
India initially issued an order in June last year to raise import taxes as high as 120% on a slew of U.S. items, incensed by Washington's refusal to exempt it from higher steel and aluminum tariffs.
But New Delhi repeatedly delayed raising tariffs as the two nations engaged in trade talks. Trade between them was worth $142.1 billion in 2018, with India having a surplus of $24.2 billion.
The relationship took a big hit with India's sudden introduction of new e-commerce rules for foreign investors in February.
That angered the United States which saw a protectionist New Delhi effort to help small traders at the expense of U.S. firms such as Walmart and Amazon.com Inc.
Companies such as Mastercard and Visa have also been battling Indian central bank rules that mandate them to store their data only in India.
Source: Reuters


Clic here to read the story from its source.