President Donald Trump, while reiterating his threats to put mutual tariffs, accused India of imposing more than 100 percent tariffs in the auto sector, while India has reduced the highest rate to 70 percent. The US President underlined his policies in the joint session of the Congress on Tuesday and said, ” "India imposes more than 100 percent tariffs on auto."
What Nirmala Sitharaman said in her budget last month
However, Finance Minister Nirmala Sitharaman announced in her budget last month that tariffs on luxury cars are being reduced from 125 percent to 70 percent. He also reduced the tariff from 50 percent to 40 percent on high-end motorcycles.
Piyush Goyal will discuss tariffs with American officials
Commerce Minister Piyush Goyal will visit Washington to discuss tariffs with American officials. Trump justified his decision to increase the tariff and said, "Countless other countries charge more tariffs than as we charge." He announced that whatever tariff they will impose on us, we will put the same tariff on them." Reciprocal tariff or reciperook tariff will be applicable from April 2.
Tell the tariff is spoken to the tax which is imposed on the goods entering the country, which is in proportion to the value of import. When a country tariffs imported on imported goods from another country and another country also puts it on the products of that country in the same proportion, it is called mutual tariff.
what Trump said
The US President said, "China’s average tariff on our products is double from us, and South Korea’s average tariff is four times more." Donald Trump’s speech came on the day when 25 percent tariffs and additional 10 percent tariffs were implemented on imports from Canada and Mexico.
The US President admitted that the tariff would have ‘little disturbance’ but insisted that this would make America more prosperous. Its purpose was to protect yourself from criticism of tariffs.
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