In a move set to boost India-China trade, the government on Monday announced the slashing of import duties on as many as 3142 items from China and 5 other nations from the Asia Pacific, days after Beijing had done the same for more than 8500 items. The reduction in tariff by both nations are part of their commitments to liberalise trade further through the Asia Pacific Trade Agreemment (APTA) and will be in effect from July 1. This is expected to reduce the trade exposure of both nations to the United States and has come at a time when the Donald Trump administration continues to threat both nations with high tariffs and reduced market access in the form of 'reciprocal tariffs'.
In a move set to boost India-China trade, the government on Monday announced the slashing of import duties on as many as 3142 items from China and 5 other nations from the Asia Pacific, days after Beijing had done the same for more than 8500 items. The reduction in tariff by both nations are part of their commitments to liberalise trade further through the Asia Pacific Trade Agreemment (APTA) and will be in effect from July 1. This is expected to reduce the trade exposure of both nations to the United States and has come at a time when the Donald Trump administration continues to threat both nations with high tariffs and reduced market access in the form of 'reciprocal tariffs'.
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