On 20 January, Trump took over the power of America as soon as he took oath. As soon as he became the 47th President of America, he said that to save the wealth of the people of America, he will impose taxes and tariffs on other countries. Now the question is how much of a concern can Trump’s warning be for India?
As soon as he sat on the most powerful chair in the world Trump said that he will make some rules to save the wealth of American people so that maximum money can come to America from foreign countries.
As soon as he took oath on 20th January he officially took over the chair of power of the President of America. First of all he will bring reforms in the US trade system and is creating such an external revenue system so that maximum money from foreign countries can come to America.
According to a news agency writer, Trump will impose a 25 percent importer surge tax on the goods imported from Mexico and Canada. A 60 percent tariff will be imposed on import of goods like China and Trump says that a 10 percent tax will be imposed on global imports.
Donald Trump also warned the governments of Canada and Mexico that if their governments fail to stop illegal exports and drug smuggling into America, then separate tariffs will also be imposed on those countries.
Since India and America do business on a large scale, India is already paying heavy taxes and tariffs. Donald Trump’s statement of higher taxes and tariffs will have a huge impact on the Indian market. If a heavy tariff is imposed on India, how much impact can be seen on India?
Trump is in a “tit for tat” mood in the matter of tariff and tax
Donald Trump has an “America First” policy in front of other countries as well. Trump has adopted this policy to save his people and the lobby’s family. He wants to make America a “Manufacturing Nation” again.
Trump has already criticized India and other countries. He says that America will also impose high tax and tariff on the countries which impose high tax and tariff on trade with America.
Trump, who is often a resident and businessman of India and America, has said that India imposes a 100 percent tax on some of their goods, so shouldn’t America do anything about it? Donald Trump has said that India supplies cycles to America and in turn America also supplies cycles to India but India imposes a 100 to 200 percent tax on goods imported from America.
How dangerous is Trump’s threat of imposing tariffs for India?
Whatever policy Trump will impose on India is definitely a matter of concern for the people and market of India. If this happens, India’s export sector can have a huge impact. Those things which are especially dependent on the US market can have a huge impact.