India no ‘abuser’ of tariffs, Trump’s claims unfair: GTRI
import tariffs is unfair as many nations including the US protect their domestic industries by imposing high customs duties on certain products.
The highest tariff levied by Japan is 457%, Korea is 887%, the US is 350% while India’s is 150%, it said, suggesting that the US should consider negotiating a free trade agreement with India if it is keen on zero tariff access.
As per the GTRI report, the US imposes high duties on items like dairy products at 188%, fruits and vegetables at 132%, cereals and food preparations at 193%, oilseeds, fats and oils at 164%, beverages and tobacco are 150%, and minerals and metals at 187%.
Trump, had in October 2020, termed India “Tariff King”.
“Trump’s argument singles out products with the highest tariffs while neglecting the average and trade-weighted tariffs that better represent India's trade policy,” said GTRI founder Ajay Srivastava, adding that tariff calculations can be quite complex.
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