US President Donald Trump on Friday threatened to impose "reciprocal tax" on countries like India and China if they do not match America's tariff.
Trump has, in recent days, spoken a number of times about the 50 per cent duty that India levies on high-end motorbikes that Harley-Davidson, an American company, sells in India. He has repeatedly insisted that the US levies "zero" duty — or "nothing" — on motorbikes imported from India.
"We're going to be doing a reciprocal tax programme, at some point so that if China is going to charge us 25 per cent or if India is going to charge us 75 per cent and we charge them nothing," he said as he imposed a 25 per cent tariff on steel and a 10 per cent tariff on aluminium from all countries except Canada and Mexico.
"They are 50, they are 75 or they are 25, we are going to be doing the same numbers. It's called reciprocal. It's a mirror of tags. So they charge us 50, we would charge them 50," Trump said.
Read more: http://v.duta.us/ZjpI2wAA