US President-elect warns India of reciprocal high tariffs on US goods
PTC News Desk: US President elect Donald Trump has warned India of imposing reciprocal tariffs if the country continues to levy high taxes on American goods. Donald Trump has criticised India for levying heavy taxes on American goods and said that if they tax us we will tax them.
He made it clear that his administration would adopt a tit-for-tat approach, saying, "If they tax us, we tax them the same amount."
Donald Trump's remarks cams as a part of comprehensive trade talks with major US partners, including China, Mexico, and Canada.
"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. India charges a lot," he further said.
He also signaled and emphasised on 'fairness in trade' which is a key economic agenda of his administration.
"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 said.
The United States trade situation with Mexico and Canada remains tensed owing to the border security and drug trafficking.
Trump's strong stance on trade wasn't confined to India. He also tackled ongoing trade conflicts with China, Mexico, and Canada, emphasizing that reciprocal tariffs would be a key element of his administration's economic strategy.
- With inputs from agencies
