US tarifs: US President Donald Trump announced a new ‘Mukti Divas’ tariff on Wednesday (April 2). Its purpose was to impose fees on countries who damaged America by taxing US goods for many years. India implements strict testing and certification rules in areas such as products and medical equipment, making it difficult and expensive for American companies to sell their products there.
In a report released after the announcement of Donald Trump, the White House said that if these obstacles are removed, then American exports to India may increase at least $ 5.3 billion every year.
Donald Trump said this thing
Trump imposed a discounted mutual fee of 26% on India and described India as a very strict country. He said that this fee is half of the 52% fee charged by India on American goods. In his speech, Trump said, ‘India is very strict, very strict. The Prime Minister has just gone. He is my good friend, but I told him, ‘You are my friend, but you are not treating us properly.’
The White House report, titled ‘President Donald Trump declared a national emergency to increase our competition, protect sovereignty and strengthen national and economic security’, described how the US is facing unfair trade policies of other countries. In this report, referring to the difference between trade imbalance and tariff, it is reported that the US imposes only 2.5% duty on the import of passenger vehicles, while the European Union charges 10% and India charges up to 70%.
Trump’s tariffs are not limited to India, but also target countries like China, European Union, Japan, South Korea and Taiwan. He also informed that between 2001 and 2018, 37 lakh American jobs were over due to China’s unfair trade policies, causing increasing trade deficit. On Wednesday, Trump showed a chart at the Rose Garden of the White House, showing tariffs imposed by different countries. It also mentioned 52% tariff imposed by India on American goods, in response to which America will now impose 26% mutual tariff.
