Trump Reduces Reciprocal Tariff on India , Extends Relief to 16 Countries
Washington/New Delhi (The Uttam Hindu): US President Donald Trump has given some relief to 16 countries including India by partially changing his decision of tariff on 57 countries announced on Wednesday. Trump has reduced the 27 percent reciprocal tariff imposed on India to 26 percent. This change came when the White House had earlier talked about 27 percent tariff in official documents.
While announcing the reciprocal tariff on Wednesday, President Trump had talked about imposing a 26 percent tariff on imports from India, while the White House documents had included India in the list of 27 percent tariffs. On Thursday, Indian officials also confirmed that the US would impose a 27 percent reciprocal tariff on India. However, now the White House documents have been amended and along with India, 15 other countries have also been given a one percent exemption.
According to revised documents released by the White House on Friday, tariffs for Bosnia and Herzegovina have been reduced from 36% to 35%, Botswana from 38% to 37%, Cameroon, Falkland Islands, Malawi, Myanmar, Nicaragua, Norway, Pakistan, Philippines, Serbia, South Africa, South Korea, Switzerland, Thailand and Vanuatu have also been reduced by one percentage point. Reciprocal tariffs for Pakistan have been reduced from 30% to 29%.
China, on the other hand, has not been exempted from this tariff relief. The US has retained a 34 per cent tariff on goods imported from China, while a massive 49 per cent tariff has been imposed on imports from Cambodia. President Trump said the US has been "cheated" for the last 50 years and this will not be tolerated anymore. About India, he said the Indian Prime Minister is his good friend, but India is not "treating" the US "fairly" as it imposes a 52 per cent duty on US products, while the US levies a much lower duty. Trump has also announced a 25 per cent tariff on vehicles imported from foreign countries, which may come into effect from May 3.
