Trump Announces Reciprocal Tariffs in Response to India’s High Import Duties
President Trump announced reciprocal tariffs in response to India’s high import duties, stating tariffs will be set at 26% for Indian goods. The new tariffs, effective April 5 for a baseline and April 9 for specific countries, aim to restore American economic strength and jobs. Trump termed April 2 as “Liberation Day” for the US economy, citing unfair global trade practices.
During a recent announcement regarding trade tariffs, President Donald Trump highlighted his recent interaction with Indian Prime Minister Narendra Modi, where he expressed concerns over high import duties imposed by India. Trump stated, “You’ve not been treating us right,” in reference to India’s tariffs, which he noted are 52%. In response, the US will implement reciprocal tariffs of 26% on Indian goods entering the United States.
While categorizing India’s tariffs as “very very tough,” Trump acknowledged his friendship with Modi but pressed on the unfair trade practices. He did not elaborate on the specifics of how these tariffs will be implemented or which sectors will be affected, but the White House clarified that the new country-specific tariffs would be in addition to a baseline tariff of 10% applied to all imported goods.
The White House announced that the baseline tariff will come into effect at 12:01 AM on April 5, and the country-specific tariffs will start on April 9. Trump framed the tariffs as a remedy to economic imbalances, stating, “America will charge other countries only half of what they charge us,” deeming this approach “fair.”
Speaking from the Rose Garden, Trump declared that April 2 would be remembered as “Liberation Day,” emphasizing the need for America to reclaim its economic power and industries. He asserted that through these tariffs, the US will recover jobs and enhance its economic growth. The announced reciprocal tariffs also included varying percentages for other nations, including China (34%), the European Union (20%), Vietnam (46%), and Japan (24%).
President Trump’s announcement of reciprocal tariffs signifies a strategic response to perceived imbalances in trade practices, particularly with India. By implementing these tariffs, the US aims to protect its economic interests and industries, while also fostering job growth. The phased implementation of tariffs further illustrates the administration’s commitment to revising trade relationships with multiple countries.
Original Source: www.ndtv.com
