Washington: Trump's proposal to impose tough tax policies on trade relations with India is part of the US election agenda. Trump's second round of proposals is causing concern among economists and the business community. They see it as retaliation, high tariffs or a form of taxation on American consumers and businesses.
Raising tariffs will increase inflation and the U. The U.S. said it would hurt U.S. production and force other countries to raise their tariffs. Bloomberg reported, citing John Murphy, senior vice president of international affairs at the S. Chamber of Commerce.
Republican candidate Donald Trump's economic agenda is that if he returns to power after the election, if countries like India and Brazil are found to be imposing high tariffs on their goods in the United States, he will impose harsh trade and tax policies in return.
President Joe Biden will roll back restrictions and implement additional tariffs, according to three people familiar with Trump's economic policy discussions. If a country like India or Brazil has high tariffs on American products, Trump would reciprocate with an equally tough levy, the policy document said.
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