The largest trade war in the world has started and meanwhile, while addressing the Parliament in the US on Wednesday, US President Donald Trump said a big thing about imposing tariffs on India. Referring to India twice in his address, he said that along with China, Mexico and Canada, India also imposes heavy tariffs on America, which is not good. Trump has also formally fixed the date of tariff to be implemented, which is 2 April 2025. Let us know what happens, this reciprocal tariff, which has created a stir in the whole world.
Trump said- ‘India imposes 100% tariff …’
First of all, we say what US President Donald Trump said about India in his speech? So let us tell you that taking the name of India twice, Donald Trump said that India puts 100 percent tariffs. This is not right at all. Taking a formal announcement of the tariff war, he said that now whatever country will impose tariffs on America.
Trump also counted the names of some countries imposing tariffs on the US and said that on average, European Union, China, Brazil, India, Mexico and Canada put tariffs on us. Have you heard about them? And countless other countries charge a lot of tariffs from us, as much as we recover from them. it’s so unfair.
Reciperook Tariff Applied from 2 April
Donald Trump said that from April 2, the US will also impose equal tariffs on the countries imposing tariffs on America, neither less nor much. In his address to US Congress, he also said that our plan was to implement the first reciperook tariff on April 1, but I did not want it to be seen by linking it with April Fool’s Day.
Trump said that if you do not make your product in America, you will have to pay the tariff, and in some cases a huge tariff will apply. Other countries have used tariffs against us for decades and now it is our turn. Along with this, Trump showed strictness that if these countries put non-monetary tariffs to keep us out of their market, then we will do the same to keep them out of our market. According to the US President, this move will help America to produce trillion dollars and will also promote employment.
What is this reciperook tariff?
It is important to know between the global trade war that the recipe on which Trump is putting so much emphasis on the tariff or mutual tariff, what is it? So let us know that tariffs are called taxes, which are imposed on goods imported from another country by a country. That is, the country who puts the tariff on American goods, America will also put the same tariff on the goods of that country. Trump had said about the recipe rice during the presidential election campaign, ‘Like Tit, the second tariff instead of a tariff, the same accurate amount.’
Reciperochl tariff i.e. when one country imposes tariffs (import duty) on imported goods from another country, the other country also puts tariffs on the products of that country in the same proportion. This can be called ‘Tit Ko Tit’ policy in simple language. For example, if a country imposes 10 percent import duty on American products, then the US will also impose only 10 percent tariff on goods coming from that country.
It is through tariffs that the income of governments increases and through this also promotes domestic production. Reciprocal tariff, ie mutual tariff, is applied with the purpose of equality in business, but also has disadvantages, which can directly target the economy. In fact, the effect of reciperoch tariff is seen as inflation on the elasticity and the mutual relations of the countries coming under its purview are also seen.