In response to "having trade policies that are unfair to Americans," US President donald trump has pledged to slap reciprocal tariffs on the majority of America's trading partners, including India, starting on april 2.
 
Trump's promise of reciprocal tariffs was made just one day after he doubled penalties on Chinese goods to 20% and imposed fresh 25% tariffs on imports from canada and Mexico.  Consequently, the three biggest trading partners of the united states have declared retaliatory actions against the United States.

"It's time for us to start utilizing tariffs against the nations that have been using them against us for decades.  Our tariffs are significantly higher than those of the european union, china, Brazil, India, and many other countries.  In his first joint address to the US congress since taking office in January, he declared, "It is very unfair."
 
"India charges us tariffs higher than 100 per cent, China’s average tariff on our products is twice what we charge them and South Korea’s average tariff is four times higher. This is happening by friends and foe. The system is not fair to the US; it never was. On april 2, reciprocal tariffs kick in. Whatever they tax us, we will tax them," trump said, while noting that he did not want to make the announcement on april 1 since it is april Fool's Day.

He went on to say that "we will use non-monetary barriers to keep them out of our market if the trading partners "use non-monetary tariffs to keep us out of their market."
 
 "We will take in trillions and trillions of dollars and create jobs like we have never seen before" and pointed out that "we've been ripped off for decades by every country on earth, and we will not let that happen any longer," said the president.
 
 Trump urged his staff last month to look into proposals for reciprocal tariffs on all US trading partners, which are anticipated to be finalized on april 1.
 
 He also pledged to confront what he described as unfair commercial practices by foreign nations while running for office.
 
Trump reduced the levy to 10% on Canadian energy, but levied 25% duties, or tariffs, on Canadian and Mexican imports shortly after midnight on Tuesday.  Additionally, trump quadrupled the 20% tariff he imposed on Chinese goods last month.
 
 Mexican President Claudia Sheinbaum declared that her country will retaliate with tariffs on sunday in response to the new taxes, while Canadian prime minister Justin Trudeau declared that his nation would apply tariffs on over $100 billion worth of American goods over a 21-day period.
 
In the meantime, china increased the list of US businesses subject to export controls and other restrictions by roughly two dozen in addition to retaliating with duties of up to 15% on American farm exports.
 
 


 
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G GOWTHAM

05/03/2025 11:00 AM