India charges 100% tariff on some US goods: Donald Trump
Taking a swipe at India along with world's other top economies, US President Donald Trump accused New Delhi of charging 100% tariff on some of the US goods, as he threatened to cut trade ties with countries who are "robbing" America. Trump's remark came at G7 summit in Canada that ended in farce after he abruptly rejected the text of a consensus statement.
India imposes high import duty on Harley-Davidson motorcycles: Trump
Trump indicated that his grievances on tariffs were not restricted to the developed economies only. "This isn't G7. We have India, where some tariffs are 100%," Trump said. Trump has repeatedly raked up the issue of India imposing high import duty on the iconic Harley-Davidson motorcycles and threatened to increase the import tariff on "thousands and thousands" of Indian motorcycles to the US.
US will stop trading with countries robbing it, warns Trump
"We're talking to all countries. And it's (imposition of high tariffs) going to stop. Or we'll stop trading with them. And that's a very profitable answer," Trump warned. His remarks came at a time when the India-US relationship has been on a positive trajectory for years. For example, bilateral trade expanded by $11bn last year to more than $125bn, a new record.
Trump has been pushing 'America First' policy
Donald Trump, who is pushing his "America First" policy, said that his ultimate goal was the elimination of all trade duties. China and the US have averted a trade war by reaching an agreement last month under which Beijing has agreed to "significantly increase" its purchases of American goods and services to reduce $375bn trade deficit with Washington.
Trump imposed 25% tariff on steel import; 15% on aluminum
The top trading partners of the US are upset over recent imposition of a 25% tariff on import of steel and 15% on aluminum. Under Trump, trade dispute between India and US has increased, with his administration asking New Delhi to lower its trade barriers and open up its market. However, India is not on top of the trade issues for the Trump administration.
