US President Donald Trump announces sweeping tariffs, including a 26% duty on Indian imports, citing unfair trade practices.
US President Donald Trump has unveiled a series of tariffs targeting multiple nations, including India, as part of efforts to counter what he calls unfair trade practices. The announcement, made on “Liberation Day,” marks a significant shift in US trade policy.
India is set to face a 26% tariff on its exports to the US, a sharp increase from the previous 3% rate imposed by Washington. This move comes despite India’s 12% weighted average tariff on American goods. Additionally, a 10% baseline tariff has been introduced on all imports to the US, effective from April 5.
Automobiles will also be hit, with a 25% tariff imposed on foreign automakers, impacting auto components, unassembled vehicles, and fully imported cars. Trump justified this by citing high tariffs imposed by countries such as India, Vietnam, and Thailand on American goods.
Other nations facing substantial levies include Cambodia (49%), Thailand (36%), China (34%), Japan (24%), and South Korea (25%). Even allies like the UK (10%) and Israel (17%) are not exempt. Higher-than-baseline tariffs will take effect on April 9.
However, Canada and Mexico remain unaffected by additional tariffs, as they were previously subjected to a 25% duty. Trump criticised Canada’s dairy tariffs, calling them excessive and unfair. The new measures signal a tough stance on global trade, potentially reshaping economic relations worldwide.
Source: NDTV
