Kumar Bahukhandi
US President Donald Trump – file photo
US President Donald Trump has fueled speculation by writing a cryptic post on social media a few hours before his scheduled meeting with Prime Minister Narendra Modi. US President Donald Trump has fueled speculation by writing a cryptic post on social media a few hours before his scheduled meeting with Prime Minister Narendra Modi. In this, he has hinted at a big step on trade. Regarding tariffs, he has written that today is the biggest day.
US President Donald Trump has fueled speculation by writing a cryptic post on social media a few hours before his scheduled meeting with Indian Prime Minister Narendra Modi. In this, he has hinted at a big step on trade. Since tariffs are to be discussed during his meeting with PM Modi, Trump wrote in his post, “Three great weeks, perhaps the best ever, but today is the biggest day: reciprocal tariffs. Make America
He had earlier said, “The time has come to be reciprocal. You will hear this word a lot. Reciprocal. If they charge us, we will charge them.
He recently indicated that a detailed order on the policy would be issued by Wednesday or Thursday, stressing that every country would do so reciprocally. His announcement comes just ahead of PM Modi’s two-day visit to the US. The Trump administration has repeatedly expressed concern over India’s tariff policies, arguing that they hinder US imports and hinder fair trade.
Trump imposed tariffs on several countries
Donald Trump had announced a 25 percent tariff on products imported from Mexico and Canada and an additional 10 percent tariff on products imported from China. However, the Republicans put off imposing tariffs on neighboring countries until March 1 as Mexico and Canada agreed to address concerns of illegal immigration and drug trafficking raised by Trump.
PM Modi is on a visit to America
Prime Minister Narendra Modi arrived in Washington DC on Wednesday (EST) after completing his two-day visit to France. His visit to the US is a significant moment in diplomatic engagement, as he becomes the fourth foreign leader to meet President Donald Trump since his swearing-in on January 20. During his two-day stay, PM Modi is scheduled to hold high-level talks with Trump, with a joint press conference scheduled at around 2.30 pm on Friday (IST). Their meeting is expected to cover a range of issues, including trade, and strategic cooperation.
What are reciprocal tariffs?
Reciprocal tariffs are taxes imposed on goods imported from another country. While campaigning for reciprocal tariffs, Trump had promised, “an eye for an eye, a tariff for a tariff, exactly the same amount.” On Sunday, he also said he would make a detailed announcement on tariffs on Tuesday or Wednesday. He said every country would reciprocate. Experts say the idea behind this is to increase tariff rates on imports at the same rate that other countries apply to US products. Matching this based on different products would increase the average tariff rate of the United States by about two per cent. The US rate would increase slightly to match the average tariff imposed by countries
