Trump admonishes India to impose 'reciprocal tax' on the country

By Xappie Desk, March 03, 2019 16:54 IST

Trump admonishes India to impose 'reciprocal tax' on the country

Trump admonishes India to impose 'reciprocal tax' on the country
 
In his speech at last day of the four-day Conservative Political Action Conference (CPAC) in Maryland, US president Donald Trump accused India that it is a very high-tariff nation and also cautioned the country to charge a reciprocal tax to match heavy duties imposed.
 
"India is a very high tariff nation. When we send a motorcycle to India, they charge 100 percent tariff. When India sends a motorcycle to us, we charge nothing. I want a reciprocal tax, at least I want to charge a tax," said Trump.
 
Lately, as reported by the news agency Reuters, India could lose a vital US trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies.
 
Trump also talked about domestic and global relationships with India. He also added that America is highly prosperous and rapid when compared to other countries which are poor in the state. For India, he wants to charge 25 percent instead of 100 in support to the country. The bilateral trade between the countries stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential.



Top