Last Updated:
US President Donald Trump imposed sweeping reciprocal tariffs on several countries, including 27% on India, 34% on China and 49% on Cambodia.
Donald Trump has introduced reciprocal tariffs on several countries. (Photo: AFP)
US President Donald Trump on Thursday said the “operation is over”, referring to his sweeping reciprocal tariffs on several countries. His “Liberation Day” tariffs have been imposed on countries like India, China and the European Union.
In a strong move on trade policy, Trump announced reciprocal tariffs on several countries – including a 27% tariff on Indian goods. Trump’s new policy imposes a 10% baseline tariff on all imports, with even steeper penalties for countries who, according to Trump, have “unfair trade barriers”— 45% for Vietnam, 36% for Thailand, and 32% for Taiwan, among others. The measure, long proposed by Trump after taking office, is part of his “America First” policy.
“THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE. MAKE AMERICA GREAT AGAIN!!!” he said on his Truth Social platform.
The United States has also imposed 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. “This is Liberation Day,” Trump said, adding that it would “forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed.”
ALSO READ: India ‘Carefully Examining’ Tariff Impact, Talks For US Trade Pact Underway: Govt After Trump Move
Reflecting on Prime Minister Narendra Modi’s visit to the US in February, he described him as a “great friend” but criticised India for imposing “very tough” tariffs, stating that the country hasn’t treated the US fairly in trade matters. Trump had long criticised India’s tariff structure, referring to it as a “tariff abuser” or a “tariff king”
Trump said for years, American workers stood by as other countries grew wealthy and powerful at the expense of the US, and it was now time for America to prosper, with tariffs playing a key role in economic growth. “Today we’re standing up for the American worker, and we are finally putting America first,” he said.
While defending his trade measures as fair and reciprocal, Trump acknowledged that he could have imposed stricter policies on trading partners but admitted that the tariffs would still pose challenges for many countries. However, some economists have expressed fears that Trump’s larger-than-expected tariffs could result in economic downturn.
- Location :
Washington D.C., United States of America (USA)
