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Trump said that Prime Minister Narendra Modi is a great friend of his and noted that the US had not imposed tariffs on India for many years.
US President Donald Trump.
Signalling a tougher stance on trade policies, US president Donald Trump on Thursday (Indian Time) announced a 26% reciprocal tariff on Indian goods.
While announcing plans for sweeping “Liberation Day” tariffs, Trump said that Prime Minister Narendra Modi is a great friend of his and noted that the US had not imposed tariffs on India for many years.
Along with India, the US will now impose a 34% import tax on Chinese goods, 20% on imports from the European Union, 25% on South Korean products, 24% on Japanese goods, and 32% on Taiwanese imports. The President also declared a 10% baseline tax on imports from all countries and higher tariff rates on nations that run trade surpluses with the United States.
“I will sign a historic Executive Order instituting reciprocal tariffs on countries throughout the world. Reciprocal that means: they do it to us, and we do it to them,” he said at the Make America Wealthy Again Event.
#WATCH | Washington | Speaking at the Make America Wealthy Again Event, US President Donald Trump says, “In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal: That means they do it to us and we do it… pic.twitter.com/8xwuQlx6hb— ANI (@ANI) April 2, 2025
Trump further imposed a 25% tariff on all foreign-made automobiles. While pointing out the disparity in motorcycle tariffs, he stated that while the United States imposes only a 2.4% tariff, countries like India and Vietnam charge significantly higher rates at 70% and 75%, respectively.
“Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don’t blame these other countries at all for this calamity. I blame former presidents and past leaders who weren’t doing their job… Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” he said.
#WATCH | Washington | Speaking at the Make America Wealthy Again Event, US President Donald Trump says, “The United States charges other countries only a 2.4 tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like India charges 70%, Vietnam… pic.twitter.com/ald75ewMRe— ANI (@ANI) April 2, 2025
Trump has said his reciprocal tariff plans are a move to equalise generally lower US tariff rates with those charged by other countries and counteract their non-tariff barriers that disadvantage US exports.
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Washington D.C., United States of America (USA)