New Delhi, February 21 (IANS). With US tariffs coming down to 10 percent, experts said on Saturday that the move will help normalize global trade. With this, businesses and investors will get more clarity.
Speaking to IANS at an event organized by the All India Management Association (AIMA), Vishal Kampani, senior vice-president, AIMA, and vice-chairman and managing director, JM Financial Ltd, said the US government’s reduction in tariff from the earlier 25 per cent to 10 per cent is a welcome move. The revised rate will be applicable for the next 150 days.
“I think this is a very positive development for emerging markets. We were waiting for the tariff rates to come down to 18 percent, but now they will come down to 10 percent for the next 150 days,” he said.
He further said that this step helps in bringing uniformity in global trade. According to him, earlier many countries had different tariff rates, but fixing the rate at 10 percent in all countries including India helps in normalizing the system. “This returns everything back to normal,” he said.
However, Kampani also advised caution, and said the US has several policy measures available.
He further told IANS that it will be important to see what measures they take to change these rules again. It also said that there are internal conflicts going on within America which may affect future policy decisions.
Talking about the AIMA programme, Kampani said he is very happy to be a part of the leadership team in its 70th year.
He described the conference as very good, in which politics, economics, finance and many other important topics were discussed.
–IANS
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