India is escalating a trade fight with America. It's a high risk strategy [CNN]
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Source: CNN
India is escalating a trade fight with America. It's a high risk strategy The Indian tariffs on 28 US products including almonds, apples and some chemicals went into effect Sunday. While New Delhi says the heightened duties are in retaliation for US tariffs on steel and aluminum imposed last year, it has a lot more to lose. "India's decision to retaliate with higher tariffs ... is a strategic miscalculation," Priyanka Kishore, India head at Oxford Economics, wrote in a note Monday. "Such a hardline stance in India's trade negotiations with the US may do more harm than good," she added. A much bigger target Like China, which is locked in a full-blown trade war with the United States, India sells a lot more to America than it buys . It imported US goods worth $33 billion last year, while exporting goods worth $54 billion. Trade in services between the two countries — worth $54.6 billion last year — is also slightly skewed in India's favor thanks to IT companies like Tata Consultancy S
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