Trump's pet Mexican wall could be financed by import tax
The Dollar Business Bureau Hinting at another major foreign policy shift, Trump has proposed to impose 20% tax on imports from all the countries America has a trade deficit with. The proceeds thereof, the White House said, will finance the construction of a wall on the Mexican border, which was Trump campaign's signature election promise. Deeming the 20% import tax proposal as one that is practiced by 160 countries, White House Press Secretary Sean Spicer called the US trade policy of taxing exports and letting imports move freely ridiculous. He also estimated that the new tax is likely to bring in $10 billion annually, which can be utilised to build the wall. "But the other net positive that you have to realise is that through the wall, not only do we secure ...
Free trade agreement with China will not benefit India
The Dollar Business Bureau Time is not yet ripe for India to go ahead and sign a Free Trade Agreement (FTA) with China, says the Associated Chambers of Commerce of India (ASSOCHAM). This was stated by the ASSOCHAM in its paper on ‘Should India sign a Free Trade Agreement with China?’, released on Monday. In its study, the ASSOCHAM further suggested that such FTA may not fit at this point of time, even though such an arrangement is a key issue of economic cooperation in order to face Chinese competitiveness in the international markets. The Sino-India economic cooperation is huge and important, but, at this juncture, it would bring gains in favour of China and will further reinforce the existing ...
