Mar e Lago: In a press conference held at a resort in Florida, America’s newly elected President Donald Trump clearly said that we will impose the same tax (tariff) that India imposes on the import of our goods. A tax of equal amount on imports from those countries (reciprocating tax).
It is also true that India imposes 100 to 200 percent import tax on imports from America. They have 200 percent import tax on luxury goods.
Trump has clearly and directly said in the press conference held here that he is taxing us. We will tax them the same amount. Will this rule apply to India also? In response to such a question, he said, friendship is one thing. Business is a different matter. Their goods will be taxed as much as India imposes import tax on our goods.
It is noteworthy that India imposes 100 to 200 percent import tax on imports from America. 200 percent import tax on luxury goods. Now, if Trump imposes similar import taxes on India (on Indian goods), India’s trade and commerce is likely to suffer a major blow.
