Trump Tariff : 'PM Modi good friend, but india treating us badly'!
US President donald trump on wednesday (April 2) announced 'Liberation Day' in the Rose Garden of the white house and introduced a policy to impose heavy tariffs on many countries like india, China, japan and the european Union. Under this new policy, 26 percent tariff will be imposed on products imported from India.
Announcing 'Liberation Day' in the Rose Garden of the white house, trump said that my fellow Americans, this is the Liberation Day, which was awaited for a long time. april 2, 2025 will be considered the day when American industry was reborn, America's fortunes changed and we started making America prosperous again.
Why was a tariff imposed on India?
Trump called prime minister Narendra Modi his best friend. However, he said that despite this, india is not treating America properly. He alleged that india imposes 52 per cent duty on American products, so America will also impose 26 per cent tariff in return.
Which countries were affected?
Under Trump's new 'Reciprocal Tariffs' policy, tariffs have been imposed on several countries:
Country Tariff (%)
India 26%
China 34%
EU 20%
Japan 24%
Taiwan 22%
Israel 17%
What will be the impact of the new tariff policy?
Trade between india and America has already been under tension over several issues. This tariff can make it expensive for indian companies to do business in America. Imposing higher duty on indian products may force American consumers to buy expensive goods. Many American companies, which import raw materials or finished products from india, may also see their costs increase.
Possibility of international trade war
India and other affected countries may take retaliatory measures and increase tariffs on US products. This can lead to a global trade war. However, trump claims that this tariff will revive the US economy. He says that these tariff policies are actually quite good. We had planned to impose even higher tariffs, but we kept it low. However, many economists believe that this policy can harm the US economy as it can weaken global trade relations.
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