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US President Donald Trump has announced 25% tariff on the cars and auto parts to be imported. This new rule will come into effect from April 2. & nbsp; Trump has described it as Liberation Day. From this day, the recipe rockel system will also start there. President Trump said that other countries will have to pay a fee for doing business in America. They believe that foreign companies are taking jobs and money from America.
President Trump said in the Oval Office, "We are going to impose fees on those countries which are doing business here and taking our jobs. We are going to take many things now, which they have been taking from us for the last several years""
Which vehicles will be affected?
The vehicles which are being sold outside the US and sold there, will be taxed at 25%. This will affect about fifty percent of the vehicles sold in America. Trump said, “We are going to impose 25% tariffs on those vehicles, which are not made in the United States.” If they are built there, then there will be no tariff of any kind.
who will apply to tariff
*Imported passenger vehicles like sedans, SUVs and minivain
*Light truck
*Important automobile parts such as engines, transmivations and electric components
White House official said that by imposing this new tax, the US government will have an income of about $ 100 billion. Trump is being considered to put tariffs on some more imported goods. He has described pharmaceuticals as a major area, because many medicines sold in American are being prepared in China or Ireland.
What effect on India
In such a situation, the question is arising that what is the effect of the auto tariff to be imposed by US President Trump on India? Actually, many cars are being made by India, but they are being sold in developing countries, not in America. Not much cars are being exported in America by the Indian car industry. However, this new trade policy of Trump can affect India’s auto parts industry. America is an important market of Auto Parts Makers of India like Mother’s Group, Sansera Engineering Limited and Suprajit Engineering Limited. & Nbsp;
Donald Trump has indicated that the US tariff is not actually charging as much as American products are being applied on this new reciperook tariff. However, he made it clear that all the countries of the world will be affected by this. Despite the complaints that other countries have not been fair about America, President Trump insisted that America will take different steps. & Nbsp;
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