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India raises the advantages of the US and China trade war, export of India increased in both the countries

Monday - May 6, 2019 2:37 pm , Category : WTN SPECIAL
India's 'profit' from trade war between America and China
India's 'profit' from trade war between America and China

Trade war between the US and China due to the battle of business domination, the 'benefits' of the situation favors India

May 06 (WTN) - You must have heard this saying that sometimes the third party gains profit in the battle between the two parties. Something like this is happening due to the trade war between the US and China these days. Indeed, due to the trade war between the US and China, India is taking advantage of this trade war. What is this whole case? Let us explain it in detail.

First of all, let us know for information that US President Donald Trump is imposing more taxes on foreign companies in order to benefit the country's companies. Meanwhile, US President Trump says that import duty of about $ 2 billion of Chinese items will be increased from May 10 this week, and the tax on Chinese import will be increased from 10 per cent to 25 per cent. Actually, America has been accusing China of adopting wrong methods for trade.

But India is getting the benefit of this trade war between the US and China. According to foreign trade experts, due to the US sanctions, the export of aluminum from India to the US has increased significantly in 2018-19. According to experts, if the trade war continues between the US and China, then this trend can continue in 2019-20.

For your information, let you know that aluminum exports from India to the US have increased 58 per cent in 2018 to $ 22.1 million. Demand for Indian aluminum in US markets has still been fast After the US banned China; American buyers are now turning to India. That is why Indian Aluminum Companies such as Nalco, Hindalco and Vedanta have increased production.

For your information, let you know that India is the second largest country after China, with which America does business at such a large level. Over the last few months, exports from India to the US, due to the US-China Trade War, have registered an increase of 15 per cent last month.

Due to the US-China Trade War, the export of many items from India has increased rapidly in both the US and China, and by the end of this fiscal, the export reached record level. According to the information received from the media, in addition to conventional chemical products from India to China, since July last year, the export of the agricultural products like rice, soybean, fruits and maize is increasing.

For your information, let you know about the sectors from where India can take advantage in the trade war between the US and China, so India is taking advantage of it and trying to increase exports. Export of marine products, organic chemicals, plastics, petroleum products, grapes, rice etc, from India to China has increased during this period.

Here, China has imposed a heavy tariff on imports from the US since July, and due to this, the price of American products in China has increased significantly. After increasing the prices of American products, Chinese companies are pushing for alternative inputs for raw materials, and for this reason India is in advantage.

Indeed, behind the US-China Trade War, there is a trade deficit battle between the two countries. For your information, let you know that from last year, the two countries had imposed a duty on each other, after which it was called trade war between the two countries. The United States, always looking at its interests, is trying to fix its trade balance with China, and therefore America is taking decisions like raising import duty on Chinese goods at this time.

The trade war started between America and China gradually started to damage the whole world economy. After which the two leaders of the two countries had decided in December that the trade war would be terminated. Among all this, Trump clearly said that he wants to reduce trade deficit with China. In 2018, the trade deficit between the US and China was $ 378.73 billion. To reduce this loss, US President Trump has laid a condition to Chinese President Xi Jinping that the Chinese market should be opened for American goods and China should stop forcing to US companies to share their technology.

Here, India's trade deficit with China has been running for the last 10 years. This means that China exports goods to India in much more quantity, whereas compared to China, the export of commodities in small quantities to China from India. After the US-China Trade War, China has decided to import essential commodities from India instead US. That is why India is benefiting from this, due to which India has succeeded in reducing its trade deficit with China after 10 years.