Donald Trump Threatens To Impose “Reciprocal Tax” On India, China

0
184

Washington: US President Donald Trump has threatened to impose “reciprocal tax” on countries like China and India if they do not match America’s tariff. Trump has, in recent days, spoken a number of times about the 50 per cent duty that India levies on high-end motorbikes that Harley-Davidson, an American company, sells in India. He has repeatedly insisted that the US levies “zero” duty – or “nothing” – on motorbikes imported from India.

“We’re going to be doing a reciprocal tax programme, at some point so that if China is going to charge us 25 per cent or if India is going to charge us 75 per cent and we charge them nothing,” he said as he imposed a 25 per cent tariff on steel and a 10 per cent tariff on aluminium from all countries except Canada and Mexico.

Communication Director Of Trump To Leave White House

- Advertisement -

“They are 50, they are 75 or they are 25, we are going to be doing the same numbers. It’s called reciprocal. It’s a mirror of tags. So they charge us 50, we would charge them 50,” Trump said.

The US President said the stage for the imposition of reciprocal tax has been set in the first year of his administration. He said American companies had not been treated fairly by other countries.

“China says it’s got two per cent, but it sends much more. We’re going to have a great relationship, hopefully, with China, but we have to do something. We’re losing with China USD 500 billion a year. We have to do something,” Trump told reporters during the signing ceremony.

Trump said the US is going to stop the trans-shipping. “Well, we’ll let it happen, but they’ve got to pay. So trans-shipping, frankly, is a big deal,” he said.

“And they trans-ship, and we’re going to accept their product, but it’s going to cost a lot of money from the standpoint of the trans-shipper,” he added.

---