TIT-FOR-TAT

INDIA

$1.5 bn India’s exports of steel and aluminium products to America stood at about every year.

$241 mn the US would be collecting as duties by hiking tariffs on certain steel and aluminum items from India. $198.6 mn steel exports affected. $42.4 mn aluminium export. India has now 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.

EUROPEAN UNION

40 mt total export volume of steel. 5 mt of steel of the total export volume exported by the EU to the U.S. £360 mn of high value steel products exported to the US by Britain $3.3bn in tariffs on US goods beginning July. Among the items now subject to high taxes when entering the EU: Bourbon whiskey, Harley Davidson motorcycles and artisan cheese and orange juice the most important crop in Florida.

CHINA

In a tit-for-tat action, China on Saturday imposed additional duties on $50 billion worth of American products, a day after Mr Trump slapped a stiff 25 per cent tariff on Chinese goods worth similar amount, triggering a trade war between the world’s two largest economies. From July 6, additional tariffs will be levied on some $34 billion worth of Chinese products. The other $16 billion worth of Chinese products will undergo further review in a public notice.