US President Donald Trump announced that he will soon impose reciprocal tariffs on countries like India and China
Washington, DC: US President Donald Trump said Friday that he will soon impose reciprocal tariffs on nations such as China and India, claiming that the US would levy the same taxes on American products as these countries do.
“We will soon impose reciprocal tariffs—they charge us, we charge them,” Trump said. We want to be fair regardless of what a business or a nation, like China or India, charges, so it’s reciprocal.”
“We have never done that,” he continued. Before COVID struck, we were preparing to do it.
In remarks on India’s tariff system, Trump said last week that “they have the highest tariffs” and “it is a hard place to do business” before his bilateral meeting with Prime Minister Narendra Modi.
Trump made the comments during a news conference when he was questioned about Tesla CEO Elon Musk’s meeting with Prime Minister Modi.
“They got to know each other. He probably wants to do business in India. However, the tariffs make India an extremely difficult location to conduct business. Their tariffs are the highest. It is a challenging area to do business. Trump said, “I would assume he met because he is managing a business and is doing this because it is something he has felt strongly about for a long time.”
Trump brought up India’s previous trade practices while discussing reciprocal tariffs, pointing to Harley-Davidson motorcycles as an example of how American businesses have been compelled to establish production facilities elsewhere in order to avoid paying excessive import taxes.
“India has always been at the very front of the pack. India has quite high tariffs; however, there are a few smaller nations that are actually higher. According to US Network Pool via Reuters, “I recall when Harley Davidson was unable to sell their motorcycles in India because the country’s taxes and tariffs were so high, and Harley was forced to build.”
