US President Donald Trump announced tariffs for all the countries of the world. Trump has named it discounted recipes. The big thing is that despite good friendship with India, America has imposed 27 percent tariffs. Trump said that PM Modi is his good friend. Trump announced the Risiprockle tariff on India and said that India is a big tough country. The people and the government there are very good and Prime Minister Narendra Modi is also his very good friend. Despite this, he imposes 52% tariff on America product. India imposes up to 52% tariffs on the US, so America will impose 27% tariffs on India. Well, Trump has imposed tariffs on India as well as many other countries. These include many countries like China, Canada, Mexico, Pakistan. Tariff is an issue about which America was threatening all countries for a long time. With its implementation, not only the speed of the country’s economy will be sluggish, but there will also be a loss of millions of crores.
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What is reciperook tariff?
When a country increases tariffs on products imported from another country and another country in response in the same proportion or at a low rate, it is called reciperookal tariff. Straight means- like tit. Trump has long supported tariffs as a solution to trade imbalance, while economists have warned that consumers will eventually pay the price. Critics argue that high prices of imports can promote inflation and push the economy towards recession.
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Will companies start making products by coming to America?
Many countries have been charging more on American goods. The US says that they will also impose more tariffs on imports from all countries imposing more import duty on their goods. Trump says that the new tariffs will make it expensive to bring foreign goods to America, which will start making products in the US and create more job opportunities. Now it will happen that only time will tell. The reciperook tariff is implemented. The special thing is that there are 11 countries of the world which have more tariffs than India. These include the name of China, Pakistan, where Trump has imposed 29% tariff on Pakistan, while China has been imposed a tariff of 34% from Trump. Chinese goods already have a tariff of 20 percent.
Impact on India
If we look at its impact on IndiaAccording to a report, India will not suffer much damage due to this tariff. India’s exports may fall by 3-3.5 percent. Increasing exports in construction and service sector may reduce the impact. New trade routes are being built through Europe, Middle East America. India has diversified its export mission. Therefore, India may not have much problem with this. According to some experts, the worst effect of this tariff can be on the textile industry, apparel and jewelery sector only.