India threatens to tax 500% of Chinese goods

The Federation of All India Businesses (CAIT) calls for a boycott of Chinese goods and imposes a 500% tax on these goods. This statement w...

The Federation of All India Businesses (CAIT) calls for a boycott of Chinese goods and imposes a 500% tax on these goods.
This statement was issued by CAIT on August 18, shortly after China expressed its support for Pakistan during the UN Security Council's informal meeting last weekend. They oppose the government's decision. Prime Minister Narendra Modi abolished Article 370 in the Constitution stipulating special regulations for the states of Jammu and Kashmir.

According to CAIT, with this decision, "China put itself on the list of potential enemies with India's national security."

"China is accustomed to assisting Pakistan in all matters against India. Now that it is time for us to reduce our dependence on Chinese goods," the CAIT announcement stated.

The announcement added that the tax increase issue will be discussed in a national conference involving businesses across the country on August 29.

In a related development, Prime Minister Modi on August 19 had a conversation with US President Donald Trump to discuss the Kashmir situation as well as bilateral and regional issues.

During the 30-minute talk, Mr. Modi expressed his hope that the country's Trade Minister and the US Trade Representative soon met to discuss bilateral trade prospects between the two countries.

For his part, President Trump emphasized the importance of trying to cool India-Pakistan tensions and maintain peace in the region. At the same time, he discussed with Indian leaders about measures to strengthen economic relations between the two countries.

India and Pakistan have been escalating tension in the past few weeks after New Delhi ended the federal autonomy of Jammu and Kashmir. Accordingly, these two states will become two federal territories.

This decision was strongly opposed by Pakistan. On August 16, Pakistan and China succeeded in persuading the UN Security Council to hold discussions on Kashmir. This was also the first conference on this issue since the 1971 Indian-Pakistani War.

Ms. Phoenix

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High Tech Brain: India threatens to tax 500% of Chinese goods
India threatens to tax 500% of Chinese goods
High Tech Brain
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