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  1. China has imposed an additional tariff of 25% on soya bean, chemical products, and medical equipment imported from the US but reduced tariffs on many agricultural products including soya bean from its Asia Pacific Trade Agreement partners comprising India, Sri Lanka, Bangladesh, South Korea and Laos. 
  2. At present, India does not export any soya bean oil or flour of soya bean but sends a negligible amount of oilcake obtained from soya bean oil extraction to China. Groundnut exports are subject to a 15% duty in China. 
  3. Non-tariff barriers are a challenge because the Chinese are not used to Indian products. India must reinvent the wheel.
  4. The two countries plan to follow a two-track approach to iron out their trade issues. The first is to resolve immediate concerns in the short to medium term and the other pertains to expanding bilateral trade in the long run.
  5. None can be inferred.
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1 Answers

Option 3 : Non-tariff barriers are a challenge because the Chinese are not used to Indian products. India must reinvent the wheel.

The correct answer is option 3, i.e. Non-tariff barriers are a challenge because the Chinese are not used to Indian products. India must reinvent the wheel.

Both the option choices (1) and (2) can be rejected as they state the exact ‘additional tariff of 25% on soya bean' and ‘15% duty' respectively on imports. Since nothing has been mentioned regarding the same in the above statement, these options can be eliminated.

Option (4) can also be rejected as no specific information regarding the strategies is mentioned. (4) explicitly states that the two countries are following a ‘two-track approach'. Moreover, option (3) can be deduced as we can deduce that the Chinese are not used to Indian products because we can infer from the above statement, that China used to import from the US, thus, it can be deduced that no import relation of as such was there between China and India, thus, the Chinese must not be habitual to the Indian products. And India must utilize the golden opportunity and strike the iron when it is hot in order to establish economic relations with the Chinese.

Thus, the most appropriate answer is option 3.
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