Tomorrow is 2 April … The date when the recipe of US President Donald Trump will increase the beats of many countries. There is also India among them. Trump has already announced that he will also put reciperook tariffs on India from April 2. Trump has also talked about celebrating this day as Liberation Day.
Trump believes that America’s trade deficit can be reduced with the help of tariffs. But there is also a truth that inflation in America can increase due to tariffs. He has already imposed 25 percent tariffs on cars and auto parts imported in America. With this, the prices of foreign cars in America can be expensive. Reciperook Tariff means such as tit. That is, the country which puts the tariff on the American import, the more tariff will be imposed on its import.
But why tariff on India?
The friendship between Prime Minister Narendra Modi and US President Trump is well known. Both call each other a good friend. Howdy Modi and Namaste Trump rallies are also said to be a strong example of this. But Trump has described India as a tariff king on many occasions. Trump says that India puts a lot of tariffs, it is very brutal. In such a situation, Trump is now preparing to install reciperook tariff on India.
According to the data of the World Trade Organization (WTO), the average tariff is the highest in India. The average tariff in India is 17 percent and 3.3 percent in the US. According to the report of Global Trade Research Initiative (GTRI), 37.66 percent tariffs are taken in India on food items, meat and processed food coming from America, while India has to pay 5.29 percent tariffs in the US on these items.
India imposes 24.14 per cent tariff on automobile and 1.05 per cent tariffs. India charges 124.58 per cent on liquor and US 2.49 per cent tariffs. Cigarettes and tobacco are 201.15 percent in the US and 33 percent tariffs in India.
America can increase import fees on countries with which it has a trade deficit. Trump claims that the US imposes a very low fee, while other countries impose more Ukrak and business restrictions on American goods. At present, the US imposes 5.3 per cent tariffs on Indian agricultural products while India imposes 37.7 per cent tariffs on American agricultural products. In this way this difference is 32.4 percent.
Where will the most impact with reciperook tariff?
Trump’s reciperoot tariff, which is going to be held from April 2, will have the most impact on medicines. Cheap medicines go from India to America. America takes more than $ 12 billion medicines and pharma products from India. Currently, pharma products are charged 1.06 percent in America while 9.68 percent tariffs are imposed in India.
What is the benefit of America from reciperook tariff?
Trump believes that America’s trade deficit can be reduced with the help of tariffs. Trade deficit is said to be the situation when a country does more imports from another country but reduces exports. There is a trade deficit of about $ 45 billion between India and the US.
According to the Commerce Ministry, exports of $ 73.7 billion from India are imported from US $ 39.1 billion. However, the US government figures show that $ 91.2 billion exports from India are imported by $ 34.3 billion.