US President Donald Trump has announced to impose tariff. He also announced to impose 26 percent concessional tax on goods imported from India. Donald Trump announced to impose 49 percent tariff on Cambodia and 34 percent tariff on China. President Trump said that our country is being looted by other countries for 50 years. Now they will not let this happen. Trump Announces Reciprocal Tariff on various countries along with the tough nation, India.
During this, Donald Trump said that the chart about India showed that 52 percent tariff has been imposed on America. This includes currency manipulation and trade barriers. America has also now decided to impose 26 percent tariff on India.
Trump said that India, very, very strict, very, very strict, the Prime Minister has just left. He is a very good friend of mine. You are my friend, but you are not behaving properly with us. You are charging us 52 percent duty, but you have to understand that we charge you almost nothing for decades. It was 7 years ago when they were in power. During this time we collected hundreds of billions of dollars in tariffs from China.
ALSO READ: How US reciprocal tariffs from April 2 affect India?
Let us tell you that PM Modi visited the US in February. PM Modi met Trump less than a month after he became President for the second time and took oath. Trump has described India as a ‘tariff king’. On February 13, at the White House in Washington, Trump had told Modi that India has been strict about tariffs. He does not blame them, but this is the way of doing business. India has trade barriers, so it is difficult to sell there.
America has a trade deficit with India
During this time, Trump had said that America’s trade deficit with India is 100 billion US dollars (one lakh crore rupees). America will talk to India about the inequalities. Announcing the tariff, Trump said that America will collect half the duty on imports from those countries which are imposing tax on the export of American goods.
ALSO READ: India-US Complex Tariff Report: Trump prioritized India over China?
Share
Dr. Praveena Emmadi Latest Book On Sustainable Living Out
Salman to Abhishek: Stars Gaining Fame Working with Fathers
