US President-elect Donald Trump reiterated his stance on imposing reciprocal taxes, accusing India of levying “high tariffs” on American goods and warning of similar measures from the United States.
Speaking to reporters Monday at his Mar-a-Lago resort, Trump called out India’s tariff policies, citing a 100% tariff on certain U S products.
“The word reciprocal is important because if somebody charges us — India, we don’t have to talk about our own — if India charges us 100 per cent, do we charge them nothing for the same? You know, they send in a bicycle and we send them a bicycle. They charge us 100 and 200. India charges a lot. Brazil charges a lot. If they want to charge us, that’s fine, but we’re going to charge them the same thing,” Trump said.
Trump also mentioned other countries, including Brazil, that impose significant tariffs on US products. “If they want to charge us, that’s fine, but we’re going to charge them the same thing,” he said.
The president-elect criticised the current US approach, claiming American goods are often taxed abroad without equivalent retaliation. “Reciprocal. If they tax us, we tax them the same amount. They tax us. We tax them. And they tax us,” he added.
Trump’s pick for Commerce Secretary, Howard Lutnick, echoed the sentiment, emphasizing reciprocity as a cornerstone of the upcoming administration. “How you treat us is how you should expect to be treated,” Lutnick said in response to reporters’ questions.
The US remains India’s largest trade partner, with bilateral trade surpassing $120 billion in fiscal year 2024, narrowly edging out India-China trade figures. India maintains a favorable trade balance with the US , unlike its deficit with China.
India’s export market share in the US has grown significantly, with exports rising from 10% in 2010-11 to 18% in recent years. Key Indian exports to the US include textiles, electronics, and engineering goods.