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Trump Stuns The World But India Needn't Worry!
By: Tupaki Desk | 2 March 2018 10:13 PM IST
US President Donald Trump took yet another controversial decision. He found fault with other nations for levying more taxes on American Products which were imported. 'When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice! When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, donât trade anymore-we win big. Itâs easy!,' he wrote.
Trump proposed 25 percent tax on Steel imports and 10 percent tax on aluminium. Canada, European Union, Brazil, China and Mexico has firmly opposed the high taxation. The decision taken by Trump not only increases unemployment in other nations, but also in US. Even Australia and Germany are preparing to offer a befitting reply to the American President.
Whereas, India made it clear it needn't worry much about the increased tax on Steel imports. Why because India's share in US steep imports is only 2 percent. China, Canada and Europe will be most affected by Trump's decision.
Trump proposed 25 percent tax on Steel imports and 10 percent tax on aluminium. Canada, European Union, Brazil, China and Mexico has firmly opposed the high taxation. The decision taken by Trump not only increases unemployment in other nations, but also in US. Even Australia and Germany are preparing to offer a befitting reply to the American President.
Whereas, India made it clear it needn't worry much about the increased tax on Steel imports. Why because India's share in US steep imports is only 2 percent. China, Canada and Europe will be most affected by Trump's decision.