LEXSTREET ADVISORS LLP
IMPORT DUTY BY USA GOVT

IMPORT DUTY BY USA GOVT

Impact of rise in Import duty by Govt.of USA on Indian economy & other countries..... To upgrade USA Economy, Mr. Donald Trump, President of USA, has made historical decision to increase an import duty on aluminium & steel which are used mainly in Space and Automobile industries.  With the implementation of new rates of import duties by USA Govt, professional activities on the ports & air terminals across the globe have slowed down and many countries have started cancellation of their confirmed orders. Industrial productions has also slowed down. This is the beginning of a trade war which was predicted by expert Economists. There is going to be a lot of pressure on the world economy and all the countries will end up paying very heavy price for this. History says that Trade War has proved very fatal for the world economy as a whole as it increases enmity between various countries and there is a threat for the whole world coming under the influence of one single country.. This, in turn, is going to adversely affect Indian economy which in turn is going to affect all the professionals also. 

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