Trump's fresh iPhone tariff threat puts India-American trading conversations in a band

Copyright © HT Digital Streams Limit all rights reserved. India trapped in crossfire, while Trump demands that Apple Shift manufacturing to the US Apple, a key player in the production-linked incentive scheme, contributes significantly to the growth of India’s electronic exports. (Bloomberg) Summary The US President has also reconsidered a new trade war with a threat to impose 50% higher rates on the import of the European Union. On May 15, Trump asked the CEO of Apple not to manufacture in India. New Delhi: A tweet from US President Donald Trump, who threatened a 25% tariff on foreign-manufactured iPhones imported into the US, put Indian trade negotiators into a band. The Indian trade team is camped in Washington to make the first part of the very expected bilateral trade agreement (BTA) with the US. In his tweet on Friday on his social platform, Trump said: ‘I informed Tim Cook long ago of Apple that I expect their iPhones to be sold in the United States of America to be built and built in the United States, not in India or anywhere else. If this is not the case, a rate of at least 25% must be paid to the US by Apple. Thank you for your attention to this matter! “The US president has also reconsidered a fresh trade war with a threat to set up 50% higher rates on the import of the European Union (EU). Also read: Govt can revive the Covid era’s credit scheme to increase manufacturing, and execute two Indian officials familiar with US-Indian trade. Tweet does not change our negotiating position, ‘said the first official on condition of anonymity. High-end telephone manufacturers like Apple act according to the sense of the business, ‘the official said, pointing out that India’s cost benefits, the depth of the supply chain and the growing domestic market. Main negotiator Rajesh Agarwal, who is additional secretary of the Ministry of Trade. Already do business. A statement from American leadership, he creates doubt. ” Besides, Apple, a key player in the production-linked incentive scheme (PLI), carries significantly to the growth of India’s electronic exports. increased significantly from 2020. Do not have to build in India. On Thursday, Apple supplier Foxconn announced a new $ 1.5 billion investment to expand the production of iPhone in India. to set the other view, in contrast to the concern that India would lose, the Global Trade Research Institute (GTRI), a trade thinking, suggested in its report last Friday, that the retirement of the iPhone meeting can actually benefit the country. Incentives, it reads. Worldwide distributed value chain, with Apple recorded about $ 450 through design, software and brand value, according to the GTRI report. Germany, Vietnam and Malaysia are about $ 45 by smaller parts. China and 60,000 in India on iPhone mounting lines. Foods below the minimum wage laws of the state-a 13-fold increase. Market updates to get more topics #Tariff Hike Read next story