China's Dominance

Tariff War Between US and China - Opportunities for India

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The recent escalation of tariffs between the US and China, initiated by the US President as a protectionist measure to rebalance trade, is set to create an opportunity for India amid the ongoing trade conflict. With heavy tariffs being imposed on a range of Chinese products such as electric vehicles, semiconductors, and various other items under the Section 301 strategy, the trade landscape is undergoing significant changes.

The US Trade Representative highlighted the need for these measures to address the influx of low-cost Chinese products into global markets. As a result, India is projected to benefit from potential market openings in products such as face masks, PPE, syringes, medical gloves, aluminum, and steel. Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), emphasized the possible opportunities for India in the face of this tariff war and the expected retaliation from China.

The prospect of China diverting its tariff-affected products towards markets like India raises concerns of dumping due to its overcapacity. The need for vigilance by India's Directorate General of Trade Remedies (DGTR) to prevent any adverse impact on local industries is crucial. Additionally, the founder of the Global Trade Research Initiative (GTRI) highlighted the potential implications of the US tariff hike on electric vehicles, batteries, and new technology items, which could lead to China exploring alternative markets like India for dumping.

In the context of India's role in the electric vehicle and semiconductor industries, opportunities for export growth are seen as significant in categories where the country has production capabilities. While India may face challenges in certain areas due to being a net importer, developments such as plans to begin semiconductor production at scale by 2025 and the growth of the electric vehicle ecosystem indicate a positive trajectory for India's trade prospects.

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Round userpic of the post author Eric Cartman
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May 21, 2023 | 05:09