Home Banking and Economy India gained $755 million in additional exports to US due to US-China trade war

India gained $755 million in additional exports to US due to US-China trade war

by sushantoberoi
  • India gained about $755 million in additional exports, mainly of chemicals, metals and ore, to the US in the first half of 2019 due to the trade diversion effects of Washington’s tariff war with China, a study by the UN trade and investment body has said.
  • The study — Trade and trade diversion effects of United States tariffs on China — shows that the ongoing US-China trade war has resulted in a sharp decline in bilateral trade, higher prices for consumers and trade diversion effects – increased imports from countries not directly involved in the trade war.
  • The study puts the trade diversion effects of the US-China tariff war for the first half of 2019 at about $21 billion, implying that the amount of net trade losses corresponds to about $14 billion.

Related Articles