New Delhi: US President Donald Trump Wednesday announced a list of reciprocal tariffs on multiple countries across the world, with a minimum of 10 percent baseline tariffs on all products entering the US market. Calling it a day of “economic independence”, Trump said that it was time now to put “America first”.
“2 April, 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again and to make it wealthy, good and wealthy,” he said, while addressing media persons at Rose garden, White House.
As Trump unveiled tariffs on both competitors and key allies, holding up a board of new rates, he said, “In many cases, the friend is worse than the foe in terms of trade.” However, he said that the tariffs were “kind reciprocal”, almost half of what the recipient country was charging the US. Trump claimed to have imposed discounted tariffs on most countries, including India.
While Trump imposed the higher end of tariffs on India—at 27 percent—he called it a very tough decision. Calling Prime Minister Narendra Modi a “great friend” and reflecting on his visit, he said that India was “not treating US right”.
“India…very, very tough… very, very tough. The Prime Minister just left. He’s a great friend of mine, but I said, ‘You’re a friend of mine, but you’re not treating us right.’ They charge us 52 percent. You have to understand, we charge them almost nothing for years and years and decades, and it was only seven years ago, when I came in, that we started with China.”
Aiming to revive the American auto industry, Trump levied taxes on all vehicles that are assembled outside the country. Manufacturers in South Korea and Japan have been the worst hit.
“The United States charges other countries only a 2.4 percent tariff on motorcycles. Meanwhile, Thailand and others are charging much higher rates, like 60 percent. India charges 70 percent, Vietnam charges 75 percent, and others charge even higher rates,” he noted.
Trump accused countries of looting the US and called trade deficits a “national emergency”. “We subsidise a lot of countries and keep them going and keep them in business. Why are we doing this? I mean, at what point do we say you got to work for yourselves.”
He added: “The European Union charges us more than 10 percent tariffs, and they have a 20 percent VAT much, much higher. India charges 70 percent, and perhaps worst of all are the non-monetary restrictions imposed by South Korea, Japan, and many other nations as a result of these colossal trade barriers.”
(Edited by Mannat Chugh)
( Note: The copy has been updated to reflect the tariffs levied on India by the Trump administration as 27%. While early reports suggested the import duty to be 26%, the communication received by the Ministry of Commerce reads 27%. )
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