US President Donald Trump is going to impose tit for tat tax across the world from tomorrow i.e. April 2. Meanwhile, Trump claimed that India has decided to reduce tariffs on American products to a great extent.
He said that many countries will reduce their tariffs because they know that they have been wrong with America. The European Union has already reduced its tariffs by 2.5%. I recently came to know that India is also going to reduce its tariffs to a great extent.
In fact, Trump has named April 2 as Liberation Day. From this day onwards, he is going to impose reciprocal tariffs on many other countries including India.
At the same time, China, Japan and South Korea have united against this decision of Trump. This claim has been made in a post made by a social media account associated with Chinese state media CCTC.
China, Japan and South Korea held economic discussions on Sunday after five years. During this discussion, it was decided that the three Asian countries will promote mutual trade amid the announcement of additional tariffs by Trump. Apart from this, the trade ministers of the three countries have also expressed the possibility of a free trade agreement among themselves.
About three weeks ago, Trump had made a similar claim about India. Then the Indian government had rejected this claim. Indian Commerce Secretary Sunil Barthwal had told the parliamentary panel that India has not given any commitment to reduce tariffs with America. While giving information to the Parliamentary Committee on Foreign Affairs, Sunil Barthwal had clarified at that time that talks between India and America are still going on and no trade agreement has been finalized yet. Barthwal said that the claims and media reports of the US President cannot be trusted. India’s interests will be taken full care of in any trade talks.
Actually Trump had said on March 7 that India charges a lot of tariff from us. You cannot sell anything in India. However, India now wants to reduce its tariff a lot, because we are exposing their deeds. He said- Everyone has looted our country, but now it has stopped. I had it stopped during my first term. Now we are going to stop it completely, because it is very wrong. America has been looted by almost every country in the world from the economic, financial and trade point of view.
Trump gave a record 1 hour 44 minute speech in the joint session of Parliament on March 5. He started the speech with America is back, i.e. ‘America’s era has returned’. He had said that what he has done in 43 days, many governments could not do in their 4 or 8 years of tenure.
He had said- ‘Reciprocal tariff’ will be implemented in America from April 2. That is, whatever tariff they impose on us, we will also impose the same on them. Whatever tax they impose on us, we will also impose the same tax on them. Trump laughingly said that I wanted to implement it on April 1, but then people would have considered it ‘April Fool’.
Trump had said that under his administration, if a company does not make its product in America, it will have to pay tariff. In some cases, this tariff will be very large. Other countries impose heavy taxes and tariffs on America, while America imposes very little on them. This is very unjust. Other countries have been imposing tariffs on us for decades, now it is our turn.
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