India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries, said Alok Sahay, secretary general at ISA
US President Joe Biden has directed his Trade Representative to increase tariffs on USD 18 billion of imports from China
China's Commerce Ministry also said that the move is against US President Joe Biden's earlier stand of not seeking to 'contain' or 'decouple' with Beijing
Biden's tariffs could boost demand by helping level a price differential with cheap imports from China, and could foster investments
Highlighting the discrimination part, the report said that of the companies that are subjected to India's equalisation levy, 72 per cent are American companies
Biden was responding to a question on about his remarks during the presidential debates that he wanted to punish China over the way Beijing has been behaving
The US charges high tariffs on several items such as tobacco at 350 per cent, peanuts at 163.8 per cent, footwear at 48 per cent, shoes at 32 per cent
Trade deficits can be a problem when those deficits are due to government borrowing in countries with weak economic and political institutions
Trump administration wants to reduce its $31 billion deficit with India
India's trade ministry is expected to shortly issue a notification that could delay the implementation of the new tariffs by 45 days
The United States and China have been tied-up in a constant bilateral trade war
Argentina, Australia, Brazil, South Korea, Canada, Mexico are the six countries