News Brief
India Among Nations Targeted In Trump’s Tariff Overhaul; Faces 26 Per Cent Duty
Trump and Modi
US President Donald Trump unveiled a sweeping tariff policy on Wednesday (2 April), imposing significant import duties on several nations, with India facing a 26 per cent tariff, ANI reported.
Speaking at the 'Make America Wealthy Again' event, Trump declared an end to what he termed decades of economic exploitation.
Calling Prime Minister Narendra Modi a “great friend,” Trump nonetheless criticised India’s trade policies.
“India very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52 per cent and we charge them almost nothing,” he said.
Highlighting disparities in motorcycle tariffs, Trump stated, “The United States charges other countries only a 2.4 per cent tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like 60 per cent, India charges 70 per cent, Vietnam charges 75 per cent and others are even higher than that.”
“Such horrendous imbalances have devastated our industrial base and put our national security at risk,” he asserted.
The new import duties include China (34 per cent), the European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), the United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).
Declaring this policy a turning point, Trump said, “Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore.”
He signed an executive order instituting “reciprocal tariffs,” stating, “This is one of the most important days, in my opinion, in American history. It is our Declaration of Economic Independence.”
