The US President Donald Trump, while announcing new tariffs on steel, aluminum imports on Friday, pitched for a“reciprocal tax” against China and India.
“We are going to do a reciprocal tax programme at some time,” the US president said.
“So that if China is going to charge us 25% or if India is going to charge us 75% and we charge them nothing. If they are at 50, or they are at 75 or they are at 25, we are going be at the same number. It’s called a reciprocal tax, mirror tax. So, they charge us 50 we charge them 50 ... We are going to be doing a lot of that,” Trump added.
Earlier, Trump had picked on India for high import duties on America’s Harley-Davidson motorbikes sold in India.
India had recently announced tariff cuts on Harley-Davidson to 50 percent from 75 percent.
However, the tariff cuts could not impress Trump who sought zero tax on Harley saying the US doesn’t put any taxes on “thousands and thousands” Indian motorcycles.
The US President mentioned China several times in his speech at a ceremony wherein he signed two proclamations to impose 25 per cent and 10 per cent import duties on steel and aluminium respectively.
"China says it's got two per cent, but it sends much more. We're going to have a great relationship, hopefully, with China, but we have to do something. We're losing with China USD 500 billion a year. We have to do something," Trump told reporters during the signing ceremony.
"Well, we'll let it happen, but they've got to pay. So trans-shipping, frankly, is a big deal," he said.
"And they trans-ship, and we're going to accept their product, but it's going to cost a lot of money from the standpoint of the trans-shipper," he added.
(With PTI inputs)