Donald Trump, the former US president, on Thursday alleged that among all major countries India imposes the highest tariffs on foreign products as he spoke the members of the Detroit Economic Club. The Republican presidential candidate vowed to introduce a reciprocal tax if elected as the next President of United States.
Charging at India for its high tariff rates, Donald Trump said, “Perhaps the most important element of my plan to make America extraordinarily wealthy again is reciprocity. It's a word that's very important in my plan because we generally don't charge tariffs."
During his economic policy speech, Trump asserted that the US “generally don't charge tariffs,” adding “I started that process, it was so great, with the vans and the small trucks.”
He also said that China charges 200 per cent tariffs, and labelled Brazil as a “big charger.”
“The biggest charger of all is India,” the former US president said, according to PTI. He cited Harley Davidson's trade experience with India, saying, “India is a very big charger. We have a great relationship with India. I did. And especially the leader, Modi. He's a great leader. Great man. Really is a great man. He's brought it together. He's done a great job. But they probably charge as much.”
Trump recalled that when Harley Davidson approached India, the country asked the company to build its plant there to evade high tariffs and said. “Now they do their business with India,” he said.
These remarks follow Donald Trump's praise earlier this week for Prime Minister Narendra Modi in a podcast, where he heaped praise on PM Modi and called him his “friend” and the “nicest human being".
Ahead of US presidential polls, Donald Trump detailed his economic plans as he vowed to lower the corporate tax rate from the current 21 per cent to 15 per cent only for companies that have their production based in the US, reported Bloomberg.
A month ago, the Republican candidate threatened to impose steep import duties on US farm machinery maker Deere & Co if they moved their production setup to Mexico.
(With PTI inputs)
