After imposing tarriffs in opposition to Mexico, Canada, and China, US President-elect Donald Trump has now warned India in opposition to reciprocal tax if American merchandise proceed to draw tariffs from New Delhi. Trump stated that India costs ‘lots’ of tariffs, reiterating his intention to impose reciprocal tariffs in retaliation for what New Delhi will impose on the 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’ve not been taxing them,” Trump instructed reporters on Monday.
On Tuesday, Trump commented that India and Brazil are among the many nations imposing excessive tariffs on sure U.S. merchandise. 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 any person costs us — India, we do not have to speak about our personal — if India costs us 100 per cent, can we cost them nothing for a similar?…, they ship in a bicycle and we ship them a bicycle. They cost us 100 and 200. India costs lots. Brazil costs lots. In the event that they need to cost us, that is high quality, however we will cost them the identical factor,” Trump stated.
In 2019, Trump repeatedly referred to India as a “tariff king,” accusing the nation of imposing “tremendously excessive” tariffs on American merchandise. He particularly criticized India’s steep tariffs on American paper merchandise and the long-lasting Harley-Davidson bikes.
As of 2023-24, the USA stays India’s largest buying and selling companion. Over the last fiscal 12 months, India’s exports to the U.S. totalled USD 77.51 billion, whereas imports from the U.S. amounted to USD 42.2 billion.
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 companies 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 be a key vacation spot for American companies corresponding to skilled, scientific, and technical companies, manufacturing, and IT. Washington is the third largest investor. India acquired USD 66.7 billion of FDI influx between April 2000 and June 2024.
