Just as the US-China trade war seems to be coming to an end with both countries working to finalize a new trade agreement, the US government has announced significant unilateral changes in its trade relations with India and Turkey. US President Trump stated that his administration is ending the preferential trade status for the two countries because they no longer qualify.
In response, India stated that the move would have a “minimal economic impact of $190m on India.” When the US imposed import tariffs on steel and aluminium last year, India responded by implementing higher import tariffs on various products.
Read more: Trump targets India and Turkey in trade crackdown
