India not an 'abuser' of tariffs, Trump's claims unfair: GTRI
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On September 17, 2024, Donald Trump labeled India an 'abuser' of import tariffs, echoing his October 2020 statement calling India the 'Tariff King'. GTRI co-founder Ajay Srivastava countered that many nations, including the US, impose high tariffs to protect domestic industries. The WTO's World Tariff Profiles 2023 show the US imposes high duties on various products, such as dairy (188%), fruits and vegetables (132%), and cereals (193%). While India's average tariff rate is 17%, higher than the US's 3.3%, it is comparable to South Korea (13.4%) and China (7.5%). GTRI noted India's openness to free trade through FTAs with ASEAN, Japan, and South Korea, contrasting with the US's reluctance to reduce tariffs in agreements like the Indo-Pacific Economic Framework. Srivastava emphasized that high tariffs on select products do not reflect the overall tariff landscape, and many countries have similar practices.

#Tariffs #Trade #India #Trump #Gtri #Economics #Wto #Ftas #InternationalRelations #CustomsDuties

https://www.newindianexpress.com/business/2024/Sep/20/india-not-an-abuser-of-tariffs-trumps-claims-unfair-gtri-2