An influential US lawmaker today said the retaliatory tariffs being imposed by countries like India and China are having an adverse impact on US agricultural products. Congressman, Dave Reichert, during a Congressional hearing on ‘The Effects of Tariffs on US Agriculture and Rural Communities’ said in Washington that US farmers, ranchers and growers are caught in the middle of international crossfire.
He said they are the first to face retaliatory tariffs from across the globe as countries react to the US trade policy decisions. Urging the Trump administration to take steps to protect the interest of American farmers, Reichert said millions of dollars export contracts have been cancelled recently by imposing tariffs in retaliation by the EU, China, Mexico, Canada, Turkey, Russia, and India.
US’s decision to impose tariffs on aluminium and steel imports has triggered a trade war with several countries, which has announced retaliatory measures. It also imposed an additional import tariff on some 1,300 Chinese products worth USD 50 billion and directed to look into another round of additional tariffs worth USD 150 billion.
China has retaliated by imposting duties on goods worth roughly the same amount. India last month submitted a revised list of 30 items including motorcycle, certain iron and steel goods, boric acid and lentils to the WTO on which it proposes to raise customs duty by up to 50 per cent.