Donald Trump Threatens 'Reciprocal' Tax On India: 'If India Charges Us 100%...'
Date
12/17/2024 10:17:49 PM
(MENAFN- Live Mint) United States President-elect Donald trump has threatened to impose retaliatory taxes on countries like India and Brazil as“reciprocation” of“high tariff” imposed by them on import of certain American products, PTI reported.
Speaking to reporters on December 16, Trump said,“Reciprocal. If they tax us, we tax them the same amount. They tax us. We Tax them. And they tax us. Almost in all cases, they're taxing us, and we haven't been taxing them.”
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When asked about a potential trade agreement with China, Trump particularly named India and Brazil being among the countries that impose high tariffs on certain US products and stated plans to retaliate. He was speaking at a press conference at his Mar-a-Lago estate in Florida.
“The word reciprocal is important because if somebody charges us - India, we don't have to talk about our own - if India charges us 100 per cent, do we charge them nothing for the same? You know, they send in a bicycle and we send them a bicycle. They charge us 100 and 200. India charges a lot. Brazil charges a lot. If they want to charge us, that's fine, but we're going to charge them the same thing,” Trump said.
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Trump's Commerce Secretary pick Howard Lutnick also reiterated the republican's statement, telling reporters“reciprocity” is something that is going to be a key topic for the Trump administration.“How you treat us is how you should expect to be treated,” he said.
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