Cong questions Trump's reciprocal tariffs, saying it is threatening GST

The Congress said on Wednesday that US President Donald Trumps remarks on reciprocal tariffs are challenging a consumption tax such as the GST and questioned whether his good friend in New Delhi would oppose it when it comes to national sovereignty PTI reportedAs per PTI Congress general secretary incharge communications Jairam Ramesh said that his party has long been calling for a GST 20 that will make GST a truly Good and Simple Tax as it was intended to beIn a post on X it has called for the barest minimum of rates and vastly reformed compliance rulesNow President Trump is threatening the very existence of GST By its very structure GST is applicable to imports but not to exports This has never been disputed he said PTI reportedRamesh claimed that now all this talk of reciprocal tariffs by the US President is calling into question a consumption tax like GSTWTO apart national sovereignty is at stake here Will President Trumps good friend in New Delhi who keeps trumpeting that he is a Vishwaguru stand up the Congress leader said in an apparent swipe at PM ModiRamesh also shared an article on X which claimed that the latest round of proposed tariffs from Trump includes a response to what the White House describes as unfair taxes specifically valueadded taxes such as Australias Goods and Services Tax PTI reportedDonald Trump is readying titfortat tariffs on global partnersUS President Donald Trump is taking additional action to upset the world trade system with plans to sign an order at the earliest that would require that US tariffs on imports match the tax rates charged by other countriesldquoItrsquos time to be reciprocalrdquo Trump told reporters earlier this week ldquoYoursquoll be hearing that word a lot Reciprocal If they charge us we charge themrdquoA reciprocal tariffs order could amount to a substantial tax increase to be shouldered largely by US consumers and businesses as the Census Bureau reported that the country had total imports of 41 trillion last year The tariffs could set off retaliatory measures by trading partners that could roil growth around the globe and reset where the US stands with allies and rivals alikeMany of Americarsquos dominant trading partners are preparing for an economic rupture in reaction to Trumprsquos possible actionsIn response to the steel and aluminium tariffs announced on Monday European Union chief Ursula von der Leyen said ldquoUnjustified tariffs on the EU will not go unanswered they will trigger firm and proportionate countermeasuresrdquo That means motorcycles jeans bourbon and peanut butter from the US could face new taxes abroad Mexico and CanadamdashAmericarsquos two largest trading partnersmdashhave also prepared countermeasuresldquoOf course even if President Trump views reciprocal tariffs as an alternative to more sweeping measures at the moment we are entering only the fourth week of a fouryear presidential term and it seems likely there will be many further tariff announcementsrdquo a Goldman Sachsrsquo analyst saidWith agency inputs