United States President Donald Trump is obsessed with trade tariffs. He misses no opportunity to upbraid China, India, Mexico and even the European Union (EU) on the high tariffs they impose on US products.
He is especially incensed by India’s 50% import duty on Harley Davidson motorcycles, which have an infinitesimal market share in India. Yet for Trump, it is a symbol of how other countries “rip off America”, as he said in a recent television interview. Trump has used tariff threats to bully Mexico into sending 6,000 Mexican troops to stop refugees fleeing Central American countries like El Salvador and Honduras before they reach the US-Mexico border.
Trump has, meanwhile, held out a threat to slap 25% tariffs on Chinese exports to the US valued at $300 billion in addition to the tariffs already in place on $250 billion worth of Chinese exports. Read More