US President Donald Trump finally imposed reciprocal tariffs on countries around the world on April 2 (US time). He imposed a 26% tariff on India, while his biggest rival China was hit with a 34% tariff.
Trump announced the plan for reciprocal tariffs during a speech at the White House. The tariffs are set at about half the rate of tariffs imposed by the United States.
On this occasion, Trump called it one of the most important days in American history and said, “This is a declaration of our economic independence. For years hard-working American citizens have been forced to sit on the sidelines, but now it’s time for us to prosper.”
Table of Contents
Donald Trump’s View on India
The US President said, “India is very, very tough. The Prime Minister (Narendra Modi) came here recently. He is a very good friend of mine, but I told him – ‘You are my friend, but you are not treating us properly.’
“They charge us 52% tariffs. You have to understand that for years and decades we charged them nothing. And it was only seven years ago, when I came into office, that we started doing this with China.”
Indian Government Analyzing Tariff Impact
The Commerce Ministry on Thursday said it is analysing the impact of the 26% retaliatory tariff imposed by the US on imports from India, a senior government official said.
A uniform 10% tariff on all imports into the US will come into effect from April 5, while the remaining 16% tariff will be imposed from April 10, the official said.
He further said there is a provision that if a country addresses the concerns of the United States, the Donald Trump administration can consider reducing tariffs against that country. India is already negotiating a bilateral trade agreement with the US.
China Strongly Opposes Tariffs
After Mexico, China is the second-largest exporter to the US and will now face a 34% tariff under the new policy. Beijing, along with the European Union, has already threatened to impose retaliatory tariffs.
According to the Global Times, China has repeatedly expressed its strong rejection and firm opposition to the US’s imposition of additional tariffs on Chinese imports. The Chinese Ministry of Commerce said the country will take countermeasures to firmly safeguard its rights and interests.
Also Read: Waqf Bill Passed in Lok Sabha Amid Opposition Uproar – What’s Next in Rajya Sabha?
