United States President Donald Trump is set to announce his latest round of tariffs on India, Japan, and other countries on Wednesday. He called it ‘Liberation Day’ for all Americans and said it would immediately come into effect.
According to Donald Trump, the new tariffs would free the country from depending on foreign goods.
The new tariffs, introduced on what Trump calls "Liberation Day," aim to bolster US manufacturing while retaliating against countries for what he claims are unfair trade practices.
The White House had earlier slammed India for imposing a 100 per cent tariff on America’s agricultural products and highlighted similar trade barriers in the EU, Japan, and Canada.
Meanwhile, the European Union is already planning a response to Wednesday's yet-to-be-announced tariffs, with the French government saying that a decision will be made by the end of April.
As Trump prepares to announce reciprocal tariffs, experts have identified which Indian sectors will be most affected by them.
According to the White House, Donald Trump is set to make his announcement in the Rose Garden of the White House at 4 pm local time on April 2 — this is 8 pm GMT and around 1.30 am IST on April 3.
The tariffs will come into effect immediately, and the collections will begin on Thursday.
US President Donald Trump's will be broadcast on the social media handles of the White House.
The US President on 13 February had first announced their intentions to levy reciprocal tariffs on many countries, including India, to match tariffs with its trade partners for ‘fairness.’
They have accused India, the European Union, China, and Canada of ‘ripping off’ the US with their current trade practices.
Donald Trump in March imposed a 25 percent tariff on all imported vehicles and auto parts, which will take effect on Thursday, April 3.
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