Watch Trump’s Upcoming Tariff Announcement: Key Details for India

President Trump will unveil new tariffs impacting global trade on Wednesday. The tariffs aim to correct unfair practices, with India potentially reducing its own tariffs in response. Immediate tariffs following the announcement include a 25% increase on auto imports.

US President Donald Trump is set to announce new country-specific tariffs from the White House Rose Garden on Wednesday, at 4 pm local time, which translates to 1:30 am Thursday in India. White House Press Secretary Karoline Leavitt confirmed the announcement, emphasizing the tariffs aim to address unfair trade practices affecting American interests over decades. Trump’s administration anticipates immediate implementation of these tariffs following the announcement, with a specific report indicating a 25% tariff on auto imports effective from April 3.

This article outlines President Trump’s upcoming tariff announcement, its timing, and implications for US and Indian trade. The focus of the tariffs is to promote American manufacturing and rectify perceived unfair global trade practices. While India has begun discussions on tariff reductions, the extent of these changes remains to be seen, pending the formal announcement.

Original Source: www.business-standard.com