Donald Trump Tariff hikes no more acceptable
Donald Trump: On Tuesday stated that India has had a “field day” imposing tariffs on the America products. Which is no longer acceptable to US.
Trump’s tweeted these curt words days after the meet with the PM of India Narendra Modi. They met at the G20 Summit in Osaka on June 28. They indulged in talks regarding the bilateral trade between the two countries.
The two countries have been going through tough times in terms of trades. With both side fighting on imposing high custom duties on various imported products .
Trump tweeted on Tuesday “India has long had a field day putting Tariffs on American products. No longer acceptable.”
India has long had a field day putting Tariffs on American products. No longer acceptable!
— Donald J. Trump (@realDonaldTrump) July 9, 2019
Consequently over the months the tensions among the two countries related to the bilateral trade has escalated.
India has raised tariffs on 28 items. Theses items include almonds, pulses, and Walnuts exported from the US. This action was taken in retaliation to America’s withdrawal of preferential access for Indian products. The Indian Government imposed these duties in retaliation to the decision of the US in significantly hiking custom duties on certain and steel and aluminium products.
America, Last year imposed 25 percent duties on steel and 10 percent import duty on aluminium products.
Donald Trump: Tariff hikes no more acceptable
Trump also tweeted before his meet with PM Modi “I look forward to speaking with Prime Minister Most about the fact that India, for years having put very high Tariffs against the United States, just recently increased the tarries even further. This is unacceptable and the Tariffs must be Withdrawn.”
I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!
— Donald J. Trump (@realDonaldTrump) June 27, 2019
February last year, India slashed 50 percent of the import duties imposed on the motorcycles like Harley-Davidson, Imported from the US. Probably because Trump called it Unfair and threatened to increase the tariffs on import of bikes to the US.
The Reserve Bank of India issued a directive on ‘Storage of Payment System data’, last year in April. For effective monitoring, it advise that all the system providers should ensure that data related to payment system to be stored in India. To be effective within six months.
Many US companies including Google, Mastercard, VISA and Amazon raised concerns regarding the impact on their operational cost rise due to the data localisation.
In conclusion, do you think this is sustainable?
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