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Trump's trade attack pushes India to the negotiating table

2019-06-04 10:24:11       source:Straits Times

June 3, 2019

NEW DELHI (BLOOMBERG) - India plans to return to the negotiating table after President Donald Trump terminated a trade concession, which allowed the country to export almost 2,000 products to the US duty-free, people with knowledge of the matter said.

While an option is to raise tariffs on a slew of US goods as retaliation, India might not choose that considering the benefits withdrawn by Trump were not mandated by any global pact and were offered voluntarily by Washington, said the people who asked not to be identified, as they aren't authorised to speak to the media. Any counter tariff measures could fall foul of World Trade Organization norms.

The matter would be discussed when Piyush Goyal, India's new trade minister, meets local officials and trade bodies on June 6, the people said. India's commerce ministry spokesman Monideepa Mukherjee declined to comment.

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