India could very well be the next recipient of US trade action.
This was viewed by William Reinsch, senior adviser at the Center For Strategic & International Studies.
Reinsch previously served for 15 years as president of the National Foreign Trade Council in the US.
He was also a member of the U.S.-China Economic and Security Review Commission and has served as the under secretary of commerce for export administration during the Clinton administration, according to a news by www.bloombergquint.com.
Last week saw what some experts might call the beginnings of a trade war as the US announced fresh tariffs on goods amounting to $50 billion worth imports from China, pledged there’s more action coming and said it would also consider restrictions on investments from China.
This came on the back of higher tariffs on steel and aluminum imports into the U.S., a portion of which also come from China.
China’s response to the steel and aluminum tariffs was to announce higher tariffs on $3 billion worth of American imports. Analysts expect more action from China in response to Thursday’s announcements by the U.S.
These moves by both countries are expected to impact not just trade between them but also global trade and global supply chains, said Reinsch.
