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US President Donald Trump lashed out at India for high import tariff on Harley-Davidson motorcycle, despite New Delhi’s slashed customs duty on imported motorcycles from high brands to 50%. Donald Trump, during a discussion with Congress members over the steel industry, also menaced to surge the tariff on the import of “thousands and thousands “of Indian motorcycles to the US. Recently, the Indian government’s reduced tariffs on motorcycles from 75% to 50%.
The President raised the issue asserted that the reduction was not enough, as the US imposes “zero tax” on the import of motorcycles. He also stated that “we will also do the same.” He emphasised on “reciprocal tax” on countries that abuse trade relationships with the United States. In the past, Trump has given utmost importance to the idea of “reciprocal tax” slapping on other countries, including its allies, that take advantage of the US.
Imported motorcycles of expensive brands such as Harley Davidson and Triumph are about to get cheaper as the centre has slashed customs duty to 50%. According to a report published in Economic Times, a business daily, earlier, import of the motorcycles with engine capacity of 800cc or less used to have 60% duty, while those with a capacity of 800cc or more attracted 75% duty.
According to a data from Centre for Monitoring Indian Economy, India-US trade (exports as well as imports) stood at 464.6 billion in 2016-17. Between 1992-93, and 2016-17, the share of US-India trade in India’s total trade has declined from 14% to 9.7%. However, The US government has been planning a comprehensive Free Trade Agreement (FTA) with India in order to boost two-way trade that currently stands at $115 billion. In the past months, the two leaders, Prime Minister Narendra Modi and US President Donald Trump have met and discussed utmost important deals in order to revamp India and United Staes ties. In 2017, Prime Minister Narendra Modi’s visit to the US had several highlights, such as talks on Pakistan, maritime security and data sharing, fight against terrorism, the sale of 22 unmanned Guardian drones to India, with deal estimated to be worth $2-3 billion.