US President Donald Trump has ruled out cutting tariffs on India on Wednesday, backing his decision that he is not considering reducing the steep 50 per
cent tariffs imposed on Indian exports. Trump described the US-India trade relationship as "one-sided" for many years, with India historically charging high tariffs on American goods while exporting massively to the US President on Social Media platform 'Truth Social' posted that, "What few people understand is that we do very little business with India, but they do a tremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest “client,” but we sell them very little - Until now a totally one sided relationship, and it has been for many decades." He further added that, "The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable to sell into India. It has been a totally one-sided disaster! Also, India buys most of its oil and military products from Russia, very little from the U.S. They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago. Just some simple facts for people to ponder!!!"
Additionally, Donald Trump, in a recent media interaction, cited a specific example to underscore his stance on tariffs, shedding light on his protectionist perspective. He said, "Harley Davidson couldn’t sell into India. There was a 200% tariff on a motorcycle. So what happened, Harley Davidson went to India and built a motorcycle plant and now they don’t have to pay tariffs. Same thing as us."
US tariff on India
The additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect on August 27, bringing the total amount of levies imposed on New Delhi to 50 per cent.On August 7, the US president announced doubling tariffs on Indian goods to 50 per cent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
However, the Prime Minister Narendra Modi asserted he can't compromise on the interests of farmers, cattle-rearers, small-scale industries, cautioning "pressure on us may increase, but we will bear it", news agency PTI reported.
The sectors, which would bear the brunt of the high US import duties, include textiles, clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.
