Washington, March 5:
During his first address to the joint session of the US Parliament, US President Donald Trump has not only directly warned India, but also announced to impose reciprocal tariffs on our products from April 2. Now it is our turn to use their weapon against those other countries. On average, the European Union, China, Brazil, India and countless other countries charge us very high tariffs. In comparison, we charge them less tariffs. This is absolutely unfair.
Before understanding reciprocal tariffs, it is important to know what tariffs, also known as import duties, are. In simple terms, tariff is the duty that a country imposes on goods imported from another country.
For example, if an American citizen orders Nagpuri oranges from producers in India, he will not only have to pay for those oranges, but he will also have to pay an additional duty. This duty is imposed by the government of the country where this product is being imported. This is called import duty. Governments of different countries impose different duties on goods imported to their country and fill their treasury.
It is said that a thirsty person goes to the well, and not the well goes to the thirsty person to quench his thirst. This saying also applies to trade between two countries. For example, if American citizens need Indian products, they will import these things from India. Not only this, they will also pay the import duty imposed by their government on these products so that the product can reach them. This is the law of demand and supply. (Agencies)
