As per the latest report, responding to a question on a potential trade agreement with China, US President-elect Donald Trump said that it was India and Brazil that levy high tariffs. (AP). Trump accused India of charging “high tariffs” and warned of imposing taxes similar to the ones that New Delhi levies.
Trump criticised India’s tariff charges, highlighting 100% tariff for some specific US products. The US President stated that “The word reciprocal is important because if somebody charges us, India, we don’t have to talk about our own, if India charges us 100 per cent, do we charge them nothing for the same? You know, they send in a bicycle and we send them a bicycle. They charge us 100 and 200”.
Responding to a question on a potential trade agreement with China, Trump said that it was India and It was alleged that India and Brazil charge a lot.
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Against these high tariff charges, the president said that “India charges a lot. Brazil charges a lot. If they want to charge us, that’s fine, but we’re going to charge them the same thing.”
Trump claimed that many of the US products are being taxed but the American administration has not been taxing them. Also said, “If they tax us, we tax them the same amount. They tax us. We tax them. And they tax us”.
The US remains the largest partner of trade for India with bilateral trade crossing $120 billion in FY24, which is slightly above the India-China trade numbers. India’s trade balance with the United States remains favourable, unlike China.
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Meanwhile, India has seen a gradual increase in its export market share with the American market as India’s exports used to be 10% to the United States in 2010-11, which has now shot up to 18%.
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