Tariff War: Presidential elections in America are going to be held in November. The main contest in this election is between Donald Trump and Kamala Harris. Donald Trump has been the President of America once. During that time, he had many times criticized the tax imposed on American goods in India. Now he has once again raised this issue in his election campaign. Donald Trump has said that if he becomes President, he will double the taxes on Indian goods. Also, he will impose more taxes against China. However, experts claim that this increase will lead to a slight decrease in India’s GDP but will not cause any significant loss.
India’s GDP will decline by only 0.1 percent by 2028
According to Bloomberg Economics, Trump tariffs will not have much impact on India’s economy. If he wins the elections and imposes new taxes on countries like India, China and Brazil, then India’s GDP will go down by only 0.1 percent by 2028. Donald Trump had said that he would impose 60 percent tax on goods made in China and 20 percent tax on other countries. He praised PM Narendra Modi but said that he charges too much tax. According to the report, there will be a slight decline in India-US trade after the implementation of the new tax.
Have already fought with India over tax on Harley Davidson
Giving the example of Harley Davidson, Donald Trump had said that this company is not able to sell many vehicles due to the heavy taxes imposed in India. He also described India as the country taking the highest tax. He said that we will bring new taxes against such countries which charge higher taxes on American goods. In the year 2019, Donald Trump had also excluded India from the list of South Asian countries which can send duty free goods to America. After this, India also increased taxes on many products. Last year, America was India’s largest trading partner. There has been a trade of about 127 billion dollars between the two countries.
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