India on Monday decried “new tariff barriers and even a trade war” being signalled by the United States, emphasizing the importance of multilateral trading system and the need to preserve the “principles of non-discrimination, predictability, and transparency” which are the “bedrock” of the World Trade Organization, according to people familiar with the development.
Without naming the US, India’s trade envoy J.S. Deepak said, “We share the concerns that some Members have expressed on recent developments that could lead to new tariff barriers and even a trade war.” US President Donald Trump signalled last week that he intends to slap safeguard tariffs on imports of 25% on steel and 10% on aluminium from all countries.