US president Donald Trump on Friday threatened to slap “reciprocal taxes” on countries that levy high tariffs on imports from America, citing a case and rate he has used frequently to make his point regarding bilateral trade with India. “We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. And you know what I’m talking about.”It wasn’t clear from Friday’s tweet if the US president plans to levy a matching import duty on Indian motorbikes when he threatened “reciprocal taxes”. Based on an investigation ordered by Trump to probe its cause and recommend remedies, the US department of commerce determined that deficits in steel and aluminum trade “threaten to impair national security”. It recommended 24% tariff on steel imports from all countries or 53% from the 12 major suppliers (including India).

Source: Hindustan Times March 02, 2018 15:45 UTC