Washington: On Thursday, US President Donald Trump has said the decision by India last year to cut the tariffs on motorcycles by half was a fair deal, but rued the high duties on American whisky. At a White House event on the Reciprocal Trade Act Trump flashed out a green colour board that had examples of non-reciprocal tariffs from various countries.
He said that "Look at motorcycles as an example. (In) India, it was 100 per cent. I got them down to 50 per cent, just by talking for about two minutes. It's still 50 per cent vs 2.4 per cent (on imported motorcycles to the US). Again, other than that, it's a very fair deal." Trump pointed out to the high tariff by India on the import of wines. "India has a very high tariff. They charge a lot of tariffs. You look at whisky... India gets 150 per cent, we get nothing." India had last February cut downed the customs duty on imported motorcycles like Harley-Davidson to 50 per cent after Trump called it "unfair" and threatened to increase the tariff on import of Indian bikes to the US.
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Trump said the Reciprocal Trade Act would help to solve the problem once and for all. "Whatever the tariff for a foreign country is, we place the same tariff on us."He further added that "What's going to happen, I think, from a practical standpoint, is they won't be charging us tariffs anymore. We'll see. Or we'll charge them a lot. A tremendous amount of money."
Congressman Sean Duffy, who introduced the Reciprocal Trade Act, has granite from India among his global list of non-reciprocal tariffs.
