In a bold move during the ‘Liberation Day’ announcement event at the Rose Garden of the White House on Wednesday, US President Donald Trump announced sweeping new reciprocal tariffs on several countries, including India. Highlighting the high tariffs imposed by India on American goods, Trump announced a “discounted reciprocal tariff” of 26 per cent on India, stressing his administration’s intent to address perceived trade imbalances.
Holding up a chart during the event, Trump illustrated the disparities in tariffs levied by various nations such as India, China, the United Kingdom, and the European Union. The chart displayed how these countries would now be subjected to reciprocal tariffs by the US. According to the data Trump shared, India charges a hefty 52 per cent tariff on American products, factoring in elements such as currency manipulation and trade barriers. In response, the US has introduced a 26 per cent “discounted reciprocal tariff” aimed at “levelling the playing field”.
