Trump backs 50% tariff on India, calls relationship with New Delhi ‘one-sided’

US President Donald Trump mentioned on Wednesday that the commerce relationship between the USA and India had lengthy been one-sided, including that tariff boundaries had made it troublesome for American corporations to compete within the Indian market.

“We get together with India very nicely. However India, it's important to perceive, for a few years, it was a one-sided relationship. Solely now since I got here alongside and due to the ability that we've got with tariffs, India was charging us super tariff. In truth, it was one of many highest on this planet,” Trump mentioned.

He added that whereas Indian items entered the US market with out dealing with excessive duties, American exports to India confronted boundaries. “We weren't doing a lot enterprise with India, however they have been doing enterprise with us as a result of we weren't charging them foolishly,” he mentioned.
“They might ship in huge, , every part they'd ship it in, pour it into our nation and due to this fact it wouldn't be made right here,” Trump said.

Giving an instance, he mentioned, “Harley Davidson couldn't promote into India. There was a 200% tariff on a bike. So what occurred, Harley Davidson went to India and constructed a bike plant and now they don't need to pay tariff. Similar factor as us.”

Trump additionally claimed that the US is now seeing main funding inflows. “What we have been doing is actually hundreds of corporations are coming into the US, automotive corporations,” he mentioned.50% tariff on India
In August, Trump imposed a 25% punitive tariff on Indian items over purchases of Russian oil, on prime of an earlier 25%, elevating complete tariff to 50% for key sectors like textiles, leather-based, engineering items and chemical substances. India and the US have been negotiating a commerce settlement since March. To this point, 5 rounds of talks have been accomplished.

A US staff was scheduled to go to India from August 25 to carry the subsequent spherical of talks. Nonetheless, the US staff deferred the go to following the imposition of a 50% obligation on Indian items from August 27.

To this point, no new dates have been finalised for the sixth spherical of negotiations.

India and the US have deliberate to conclude the primary part of BTA by the autumn this 12 months with an intention to greater than double bilateral commerce in items and providers to USD 500 billion by 2030 from the present USD 191 billion, as per a PTI report.