Japanese cars could end up being sold at lower prices than South Korean cars such as Hyundai Motor Co. in the American market when U.S. tariffs on Japanese automobiles drop from 27.5 percent to 15 percent on Tuesday.
"I would recommend that India take a look once again at RCEP. RCEP is the 15 economies, including China, Japan, Korea, ASEAN, Australia, and New Zealand. It should be 16. India should be part of that. And that would be a very dynamic way to grow for years to come," Sachs said.
US President Donald Trump has been unfairly targeting India over Russian oil imports, while choosing not to criticize China, according to a recent report by the Global Trade Research Initiative (GTRI).
The recently signed Free Trade Agreement (FTA) between India and the United Kingdom is expected to help India manage the impact of 25 per cent tariff announced by the United States President Donald Trump, noted Economist Dipanwita Mazumdar.
Former Indian diplomat KP Fabian on Wednesday slammed NATO Secretary General Mark Rutte over his warning of possible secondary sanctions on India, China, and Brazil for maintaining trade ties with Russia, saying Rutte was "speaking out of turn" and "talking through his hat," as he has no