October 6, 2022

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Harley has to pay huge duty in India, Trump revives import duty debate, Auto News, ET Auto

Harley has to pay huge duty in India, Trump revives import duty debate NEW DELHI: U.S President Donald Trump phone calls out India-US tariff a trouble mentioning the American motorbike company Harley Davidson has to pay out high import tariff in India.

Even though addressing a media convention in Delhi, he said, “India is possibly the optimum tariff nation in the earth. The United States has to be handled quite and I assume India understands it. We have a significant deficit of $24 billion with India and that it is quite high”.

Having said that, he indicated that a trade deal with India could transpire at the end of the 12 months. “Working it out with India on tariffs,” President Trump said.

India diminished the customs responsibility on complete designed-up models (CBUs) from 100 % to 50 % in 2019. Even then Trump criticized the import responsibility and called out “too high” and “not acceptable”.

On the other hand, India elevated tariffs on completely knocked down (CKDs) models from 10 per cent to 15 %. Harley Davidson’s the greater part of product sales occur from the CKDs which are assembled in India.

In FY2019, Harley Davidson offered 2676 bikes. It sells seventeen Styles in India which ranges from ₹5.33 lakh to ₹50.3 lakh.

Just before Trump India Stop by, India proposed a new tariff classification for bikes with a cylinder capacity exceeding 1,600 ccs, imports of which will be taxed in one digits.