During Prime Minister Modi's visit to the United States, President Donald Trump revealed plans to impose reciprocal tariffs on all countries, including India, just two hours before their meeting. This new tariff policy, signed by Trump at 12:30 AM Indian time, means that any tariffs imposed by a country on American goods will be matched by the United States on goods from that country.
Trump stated that the tariffs would apply equally. India has higher tariffs than most nations.
India is at the top in terms of imposing tariffs: Trump
Trump said India is at the top in terms of imposing tariffs. There are some smaller countries that impose even higher tariffs, but India's tariff is very high. I remember when Harley Davidson was not able to sell its motorbikes in India, because the tax in India was very high, the tariff was very high, and Harley was forced to stop manufacturing. I think they had to build a factory in India to avoid paying the tariffs, said Trump.
When questioned about potential price increases as a result of these tariffs, Trump responded, "Not necessarily," expressing optimism that job growth would follow, although he acknowledged that prices might rise temporarily for some products.
Additionally, Trump mentioned that interest rates are expected to decrease, and that Value Added Tax (VAT) would also be considered in the tariff calculations.
In related news, reports suggest that during PM Modi's visit, the US may facilitate the repatriation of illegal Indian immigrants, with a second flight likely to arrive in Amritsar on February 15. This follows an earlier flight on February 5, which returned 104 illegal Indian immigrants to India. No official confirmation has yet been provided regarding this second flight.
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