Ahead Of Bilateral Meet With Modi, Donald Trump's Cryptic Post On Reciprocal Tariffs
PM Modi In US: PM Modi will be hosted for dinner by US President Donald Trump tonight. At a bilateral meeting between the two, the issue of 'reciprocal tariffs' could come up.
PM Modi US Visit: Ahead of hosting Prime Minister Narendra Modi for dinner and a bilateral meeting at the White House, US President Trump posted a cryptic message about reciprocal tariffs. Taking to his social media platform, Truth Social, Trump said: "Three great weeks, perhaps the best ever, but today is the big one: reciprocal tariffs!!! Make America great again!!! [sic]"
He followed it up with another post saying that the Russia-Ukraine war is near. "Great talks with Russia and Ukraine yesterday. Good possibility of ending that horrible, very bloody war," he said.
What Are Reciprocal Tariffs?
Tariffs are taxes applied to goods imported from foreign countries. Reciprocal tariffs, a concept Trump frequently referenced during his election campaign, involve imposing equal tariffs on countries that levy duties on US exports. He previously vowed, "An eye for an eye, a tariff for a tariff, same exact amount."
Trump is likely to announce his reciprocal tariffs policy ahead of his bilateral meeting with PM Modi.
White House Press Secretary Karoline Leavitt earlier explained the rationale behind this policy, stating, "It's very simple logic as to why the President wants to impose reciprocal tariffs, it's the golden rule which we all learned when we were growing up in school – Treat others the way you want to be treated, and far too many nations around this world have been ripping off the United States of America for far too long and that's why the President believes this will be a great policy."
Trump has frequently criticised India's high tariffs on US imports, labelling India a "very big abuser" of trade relations. The meeting with PM Modi amid the remarks is of great importance. Earlier, the US imposed reciprocal tariffs on China, Mexico, and Canada.
Economic experts have identified India and Thailand as one of the nations most vulnerable to Trump's proposed reciprocal tariffs. The Indian Steel Association warned that tariffs on steel alone could bring down exports to the US by 85%, reported The Indian Express.
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