Equity

The United States has imposed a 10 per cent tariff on goods imported from India and 16 other countries as part of its efforts to combat the use of forced labour in the production of such items. Last month, when the US had proposed tariffs under Section 301 of the Trade Act, India was bracketed among countries attracting 12.5 per cent levies, but Washington took note of the amendment New Delhi made to its foreign trade policy prohibiting the import of goods produced using forced labour. 'As a result of these actions, the Trade Representative has advised me that the goods of these economies should be tariffed at the 10 per cent rate to further encourage these economies to effectively enforce such prohibitions,' US President Donald Trump said in a memorandum on the issue on Thursday.

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