With higher tariffs on Chinese imports set to raise vehicle prices in the US, global automakers are likely to turn to alternative suppliers like India, said Nomura in its latest report.
"Even if the US imposes even higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history," according to the commission as reported in the Chinese state media.
US President Donald Trump on Sunday warned of new and significantly higher tariffs on Chinese goods if Beijing does not withdraw a recent 34 per cent retaliatory tariff hike, threatening to end all ongoing talks with China.
US President Donald Trump on Sunday (local time) outlined his administration's approach to upcoming tariffs, the auto industry, and the economy, stating that the US would be more generous than other countries when asked if tariffs will be set at higher rates.
Lula's comments came in response to US President Donald Trump's threats of higher tariffs on Brazilian goods. "It is very simple: If he taxes Brazilian products, there will be reciprocity," Lula told reporters.
The widening trade deficit poses a concern, especially with the U.S. imposing higher tariffs on Chinese imports, potentially leading to a surge in Chinese exports to Asian markets, including India.
During the presidential debate at ABC News, Harris said that the US' policy with regards to China should be to win the competition for the 21st century, which she stressed means focusing on relationships with allies of the US, focusing on investing in American-based technology.
The move, which Beijing officials have slammed as "protectionist," comes less than a month after Washington quadrupled US tariffs on Chinese electric vehicles to 100 per cent.
Singapore, February 5 (ANI): Fitch Ratings on Friday forecast the Indian telecom industry's mobile segment EBITDA to increase by at least 40 per cent in the financial year to end-March 2021 (FY21) compared with 25 per cent in FY20 following strong performances by market leader Reliance Ji