Reference News Network, July 5 report. According to the website of the "Japan Economic News", on July 4, the Indian government announced that in response to the U.S. government's imposition of tariffs on cars and auto parts, India will impose retaliatory tariffs on imported goods from the United States. India has notified the World Trade Organization of this decision.
In documents submitted to the World Trade Organization, India stated that given the tariff amount imposed by the United States on Indian goods is as high as $725 million, India will also "impose tariffs of the same amount on U.S. goods." The document did not explicitly list the tariff rates or specific categories of goods subject to taxation.
On the other hand, the document also pointed out that if the U.S. reconsiders its tariff policy and makes concessions, India may also withdraw or adjust its countermeasures.
India had previously sent a negotiation team to the U.S. in an attempt to sign a trade agreement with the U.S. Both sides aim to reach a framework agreement before the U.S.-set deadline of July 9, but so far the negotiations have been difficult.
According to Reuters, on July 4, India's Minister of Commerce and Industry, Piyush Goyal, emphasized that India is signing the trade agreement to protect national interests, and the position it upholds will not be bound by the negotiation deadline.
India had previously notified the World Trade Organization in May that it plans to take countermeasures against the U.S. imposing tariffs on steel and aluminum. (Translated by Ma Xiaoyun)
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