Trump Imposes 26% Tariff on India, Says ‘We’re Collecting Only Half’
Trump’s Reciprocal Tariff Announcement Shocks the World
U.S. President Donald Trump has shocked the world by announcing new tariffs. Initially, it was expected that the U.S. would impose tariffs equal to those levied by other countries. However, Trump decided to implement only half the amount. He made the announcement in the White House Rose Garden at 4:30 PM U.S. time (2:00 AM IST).
Key Announcements
25% Tariff on the Auto Sector Effective Immediately
Trump made a major announcement, enforcing a 25% tariff on the auto sector, effective immediately. While he had hinted at this move earlier, the official declaration confirmed it.
Trump’s Motorcycle Example
During his speech, Trump explained that the U.S. currently imposes only a 2.4% tariff on imported motorcycles. However, other countries, such as India (60%) and Vietnam (70%), charge significantly higher tariffs. He described this as an unfair economic burden on American workers.
Tariffs Will Be Lower Than Other Countries: Trump
Trump clarified that the U.S. will collect approximately half of what other countries charge the U.S. He stated that while he could have imposed fully reciprocal tariffs, it would have been too burdensome for some nations.
New Tariff Rates for Various Countries
Effective immediately, the following tariffs have been imposed:
- China – 34%
- European Union – 20%
- Japan – 24%
- South Korea – 25%
- Switzerland – 31%
- United Kingdom – 10%
- Taiwan – 32%
- Malaysia – 24%
- India – 26%
Trump’s Message to Foreign Leaders
Trump urged foreign nations to lower their own tariffs if they expect the U.S. to reduce its tariffs. He also encouraged foreign manufacturers to set up factories in the U.S. to avoid tariffs altogether.
“Tariffs protect our country from those who try to harm the American economy,” Trump asserted, adding that previous trade policies had caused significant economic damage. He believes these tariffs will lead to unprecedented economic growth.
Impact on Global Trade
Trump’s tariff policy is expected to affect major trading partners like China, the European Union, India, Japan, Mexico, and Canada. The announcement has disrupted global markets, with several countries hinting at retaliatory measures, raising fears of a new global trade war.
Before the announcement, Trump posted on Truth Social, calling April 2 “Liberation Day” for America. He promised that his new trade policies would protect the U.S. from economic exploitation and bring back its “Golden Age.”
“America Was the World’s Piggy Bank for Too Long”
During the press conference, Trump stated, “For too long, America was the world’s piggy bank. Today, we are taking back control. This is our Independence Day—from unfair trade deals, high tariffs on American goods, and policies that hurt our businesses and workers.”
These tariffs mark a significant shift in U.S. trade policy and could reshape global economic relations in the coming months.
