US President Donald Trump has imposed 25 percent tariff on imports of foreign cars. China and Canada have criticized the US for this. Tata Motors, Bharat Forge, Sona BLW and Samvardhana Madrasan have vehicles and parts exports to America. So will India also suffer any harm? People associated with America’s car industry say that the decisions of Trump may have to face great problems for the car industry there. Trump’s fund is very clear, earning, earning, earnings… by applying various tariffs and increasing, they are trying to fill the treasury of America. His latest decision is to impose 25 percent tariffs on cars coming from abroad to America.
Tata company shares fell by 6 percent
Trains from India also go to America. After Trump’s decision, India’s Tata company shares fell by 6 percent. It is being said that Trump’s decision will have a direct impact on Tata Motors’ Jaguar Land Rover. The company sold 4 lakh cars worldwide last year. Of these, about 88 thousand were sold in America. The company manufactures most of its cars in Britain. But Indian export experts are not able to see much worry about tariffs on India.
According to media reports, 125 percent tariff was taken on expensive cars in India, which has now been reduced to 70 percent. India does not charge more tariffs on cars. But if America also collects the same tax
Of course, American buyers will have to pay more price for Indian cars.
What will be affected by America
- In the US, a car usually costs around 48 to 50 thousand dollars.
- The new tariff can increase by up to $ 12,000.
- That is, people will get expensive cars and maybe many of them should emphasize more on buying old cars.
- The US and India currently have a trade of $ 190 billion. Which is intended to increase in the next 5 years to $ 500 billion.
- But how will this be possible without removing tariff barriers.
Trump has now announced 25% percent of the tariff on cars coming from outside, but has already announced the receiprockle tariff. Which is to be implemented from 2 April. India is showing flexible stand from its side to overcome the stubbornness of Tarif’s trump. Meanwhile, the US party is in India to talk on trade and tariffs. India’s effort is to get exemption from the deadline of April 2 and to reach the September tax agreement. Trump is going to come to India at the same time for the Quad Summit and then the agreement is possible.