Washington: US President-elect Donald Trump has reiterated his intention to impose reciprocal tariffs in retaliation for the excessive tariff imposed by India on import of sure American merchandise.
Trump made these remarks on Tuesday and likewise stated that India and Brazil had been amongst nations that impose excessive tariffs on sure US merchandise.
“Reciprocal. In the event that they tax us, we tax them the identical quantity. They tax us. We tax them. They usually tax us. Nearly in all instances, they’re taxing us, and we have not been taxing them,” Trump advised reporters on Monday.
He made the remarks whereas responding to a query on a possible commerce settlement with China. Trump stated India and Brazil had been amongst nations that impose excessive tariffs on sure US merchandise.
“The phrase reciprocal is vital as a result of if anyone prices us — India, we do not have to speak about our personal — if India prices us 100 per cent, will we cost them nothing for a similar? You already know, they ship in a bicycle and we ship them a bicycle. They cost us 100 and 200. India prices loads. Brazil prices loads. In the event that they need to cost us, that is wonderful, however we’ll cost them the identical factor,” Trump stated at a information convention at Mar-a-Lago.
Responding to a query, his Commerce Secretary decide Howard Lutnick stated “reciprocity” is one thing that’s going to be a key subject for the Trump administration. “The way you deal with us is how it’s best to anticipate to be handled,” he stated.
Throughout his election marketing campaign in October, Trump has claimed that India imposes the very best tariffs on international merchandise. However they do it with a smile.
“Maybe crucial component of my plan to make America terribly rich once more is reciprocity. It is a phrase that is essential in my plan as a result of we usually do not cost tariffs. I began that course of, it was so nice, with the vans and the small vehicles, and so on,” Trump had stated Thursday in October.
In 2019, Trump has repeatedly claimed that India is a “tariff king” and imposes “tremendously excessive” tariffs on American merchandise.
He has criticised India’s “massive tariffs” on American paper merchandise and the long-lasting Harley-Davidson bikes.
The US is the most important buying and selling accomplice of India in 2023-24. India’s exports stood at USD 77.51 billion, whereas imports aggregated at USD 42.2 billion within the final fiscal.
Throughout April-October this fiscal, the nation’s exports to America rose by 6.31 per cent to USD 47.24 billion, whereas imports grew by 2.46 per cent to USD 26 billion.
Between FY 2020 and FY 2024, India’s merchandise exports to America rose by 46 per cent from USD 53.1 billion to USD 77.5 billion.
Imports from the US additionally grew to USD 42.2 billion final fiscal from USD 35.eight billion in 2019-20.
Alternatively, commerce in providers between the 2 nations expanded 30.three per cent from USD 54.1 billion in 2018 to an estimated USD 70.5 billion in 2024.
India can also be a key vacation spot for American companies comparable to skilled, scientific, and technical providers, manufacturing, and IT. Washington is the third largest investor. India acquired USD 66.7 billion of FDI influx between April 2000 and June 2024.
