Donald Trump imposes reciprocal tariffs on India, China, EU, and UK, declares April 2 as ‘Liberation Day’
PTC Web Desk: In a major trade policy shift, US President Donald Trump has announced steep reciprocal tariffs on imports from India, China, the European Union, the United Kingdom, and Japan. While addressing a gathering at the White House Rose Garden, Trump stated that these measures are meant to counter the high tariffs imposed by these nations on American goods.
The new tariffs include a 26% import duty on Indian products and a 34% duty on Chinese imports, which Trump referred to as “discounted reciprocal tariffs” since they amount to roughly half of what these countries charge the US. He criticised India’s trade policies, calling them "very, very tough," and recounted a conversation with Indian Prime Minister Narendra Modi, where he emphasised the need for fair trade practices.
Further, the European Union will face a 20% import duty, the UK will be subject to a 10% tariff, and Japan will see a 24% levy on its exports to the US. These duties are in addition to a baseline 10% import tariff that will apply across all products entering the United States, citing national security concerns due to ongoing trade deficits.
The tariffs will be implemented in phases, with the baseline 10% duty taking effect from April 5 (12:01 am local time) and the country-specific tariffs coming into force from April 9 (12:01 am local time).
Declaring April 2 as ‘Liberation Day’, Trump asserted that this move will help reclaim American industries, create jobs, and strengthen the economy. "For too long, other countries have exploited our policies. But no longer. America will now impose reciprocal tariffs—what they do to us, we will do to them," he stated.
The White House clarified that these measures were taken under a national emergency framework, aimed at addressing trade imbalances and enhancing economic security. The administration expects these tariffs to encourage domestic production and revive small and medium-scale businesses in the US.
- With inputs from agencies
