US President Donald Trump accused India for charging 100 percent import tariff on some of the US goods.
Trump made the above remarks in Canada’s Quebec City where he was attending the G7 summit.
While addressing a press conference, Trump said, “We are like the piggy-bank that everybody is robbing.”
Indicating that his grievances on tariffs were not restricted to the developed economies alone, he made reference to India and said, “This isn’t just G7. I mean, we have India, where some of the tariffs are 100 per cent; a hundred per cent. And we charge nothing. We can’t do that. And so we are talking to many countries.”
During the G7 summit, Trump raked up the issue of India imposing high import duty on the iconic Harley-Davidson motorcycles and threatened to increase the import tariff on “thousands and thousands” of Indian motorcycles to the US.
Trump warned all the countries and said, “We are talking to all the countries. And it’s going to stop. Or we’ll stop trading with them.”
Trump, who is pushing his ‘America First’ policy, said his ultimate goal was the elimination of all trade duties.
“Ultimately that’s what you want,” he said. “You want a tariff free. You want no barriers. And you want no subsidies. Because you have some cases where countries are subsidizing industries and that’s not fair.”
The top trading partners of the US are upset over recent imposition of a 25 per cent tariff on import of steel and 15 per cent on aluminum.
Addressing the measures to solve the trade disputes, US has said, that the best way to resolve the issues was to reduce tariff and non-tariff barriers and allow free market to operate.
Under President Trump, trade dispute between India and the US has increased, with his administration asking New Delhi to lower its trade barriers and open up its market.
However, unlike countries like China, Mexico and Canada and those from Europe, India is not on top of the trade issues for the Trump administration.
Last month, China and the US have averted a trade war by reaching an agreement under which Beijing has agreed to “significantly increase” its purchases of American goods and services to reduce USD 375 billion trade deficit with Washington.