- Tag results for trade tariffs
The critical question is whether US and China can strike a deal by the March 1 deadline because if they succeed, a cloud will be lifted off the world economy.
Union Finance Minister Arun Jaitley spoke amidst growing concerns over tariff wars across the world.
Having slapped China with an additional tariff on the import of its products worth USD250 billion, Trump did not rule out coming up with more tariffs on Chines products.
September exports rose 14.5 per cent from a year earlier, the fastest pace since February, the customs data showed.
China has been locked in an intensifying trade conflict with the US, which unleashed a new wave of tariffs on $200 billion in Chinese goods on Monday.
US President Donald Trump suggested the honeymoon was over as US-China relations sink to their lowest point in years.
Beijing has pledged to hit back with five to 25 per cent tariffs on $60 billion in US imports in retaliation for any measures from the US.
Heightened fears that Washington will slap fresh trade tariffs on China also saw investors seek safety in the dollar and pull out of emerging market currencies.
The National Stock Exchange (NSE) too slipped by 79.90 points to 11,509.20.
The company's US-made hardware products have taken it to become a USD 1 trillion company but those products are built in China which, in turn, creates thousands of jobs.
The President said that the US should get paid for securing the wealthy countries from the outside harm.
Russia announced on July 6 that it had raised duties on some imports from the US from 25 to 40 per cent, in retaliation for a similar move by Washington.
Trump has pushed aggressive trade actions to lower the US trade deficit, which he equates with theft from Americans.
The trade war between the US and China doesn't seem to cool down. The US has planned to place tariffs on additional products worth $200 billion.
Economy Minister Maxim Oreshkin said recent US trade restrictions have cost Moscow USD 537.6 million.