Donald Trump's tariff 'Liberation Day' today, India, other countries prepare for impact | 10 points
ByHariharan S
Apr 02, 2025 08:20 AM IST
The White House said Donald Trump was meeting his advisors on the eve of the announcement, ‘perfecting it to make sure this is a perfect deal’.
President Donald Trump's administration is expected to announce new “reciprocal tariffs” on April 2 (early Thursday in India), though the White House provided no details about the size and scope of trade barriers 24 hours before the announcement that will hit all US trade partners.
FILE PHOTO: U.S. President Donald Trump holds an executive order about tariffs increase, flanked by U.S. Commerce Secretary Howard Lutnick, in the Oval Office of the White House in Washington, D.C., U.S.(REUTERS file)
FILE PHOTO: U.S. President Donald Trump holds an executive order about tariffs increase, flanked by U.S. Commerce Secretary Howard Lutnick, in the Oval Office of the White House in Washington, D.C., U.S.(REUTERS file)
White House spokeswoman Karoline Leavitt's words at a press conference summed up what the US president has been arguing since assuming power on January 20. “The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. It’s time for reciprocity and it’s time for a president to take historic change to do what’s right for the American people,” she said.
10 points on Trump's reciprocal tariffs
Leavitt had said new tariffs on countries that impose “high” duties on US goods will take effect immediately after the announcement, while a 25% tariff on auto imports will take effect on April 3.
The administration also said Trump was meeting his top advisors on the eve of the announcement, “perfecting it to make sure this is a perfect deal,” in which the US president promised to be a “little kind.”
US trade partners, including India, continue to adopt a wait-and-watch approach amid economic uncertainty triggered by Trump's tariff war. Leavitt had said that country-wise, “reciprocal tariffs” would depend entirely on Trump himself.
India has focussed its energies on negotiating a bilateral trade agreement with the US despite Trump's repeated claims that New Delhi will be dropping tariffs “substantially.”
As reported by HT, Indian officials have mapped out four possible scenarios and potential implications of the latest tariffs on India's trade and remain confident in the steady progress made in trade negotiations.
US Treasury Secretary Scott Bessent told Republican lawmakers that the new announcement will represent a “cap” on the highest US tariff level that countries will face, which could be reduced if America's trade partners meet the administration's demands.
The Washington Post reported that Trump's aides were contemplating a plan to raise duties on products by about 20% on goods from all countries. The expected revenue of $6 trillion from tariffs could be paid to the affected sectors as a rebate, the paper reported.
The Wall Street Journal said the US is preparing an option for an across-the-board tariff on a subset of nations that likely would not be as high as a 20% universal tariff option.
Meanwhile, US allies and its biggest trade partners sounded firm on their stance to Trump's latest threats. Canada vowed to respond with its own tariffs, with Prime Minister Mark Carney's office saying it would “fight unjustified trade actions.”
EU executive chief Ursula von der Leyen said the bloc wants a “negotiated solution,” but said it has a “strong plan” to defend the interests of its workers and companies.
Trump Administration
Donald Trump
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News / World News / Donald Trump's tariff 'Liberation Day' today, India, other countries prepare for impact | 10 points
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