US President Donald Trump has declared reciprocal tariffs starting April 2, targeting countries with high tariffs such as India and China. India must adjust its duties or face equal tariffs on its imports to the US. A multi-ministerial committee has been established in India to evaluate the trade impact. Trump emphasizes an advocacy for fair trade policies in light of perceived disadvantages faced by the US.
United States President Donald Trump has condemned high tariffs imposed by countries including India and China, labeling them as “very unfair.” During a joint session of Congress, he announced that the US will introduce reciprocal tariffs starting April 2. This announcement requires India to either adjust its tariff duties on US goods or face equivalent tariffs imposed by the United States on Indian imports.
In preparation for the potential imposition of reciprocal tariffs, India has formed a multi-ministerial committee tasked with assessing the impact on trade relations. Following a positive dialogue in February between President Trump and Indian Prime Minister Narendra Modi, both nations aimed to negotiate a bilateral trade agreement by September-October, intending to achieve a trade target of $500 billion by 2030.
Responding to the US’s tariff decisions, China’s foreign affairs ministry issued a strong statement. Spokesperson Lin Jian remarked, “If war is what the US wants, be it a tariff war or any other type of war, we’re ready to fight till the end,” emphasizing China’s resilience against what it perceives as bullying tactics from the US.
In his remarks about India’s tariffs, Trump stated, “India charges us tariffs — 100 per cent. The system is not fair to the US, it never was.” He reiterated his administration’s stance on utilizing reciprocal tariffs as a strategy to rebalance trade, insisting that the US will match tariffs imposed by other countries. This approach aims to address historical grievances regarding trading advantages favoring foreign nations over the US.
These new reciprocal tariffs will apply to a wide spectrum of imports, affecting key trading partners such as Canada, Mexico, China, the European Union, and India. Trump believes that such tariffs are essential to reforming US trade policies, as he has long argued that global trade agreements have favored other countries at the expense of American interests. The administration will evaluate tariffs not only based on their rates but also considering non-tariff barriers including subsidies and regulatory obstacles, thus impacting trade on multiple levels.
In conclusion, President Trump has announced reciprocal tariffs targeting high tariff countries like India and China, set to begin on April 2. This move has prompted India to assess its tariff policies, and a multi-ministerial committee has been established to evaluate the implications on trade. China has responded firmly to the US’s actions, highlighting the global tensions in trade relations. Overall, Trump’s push for reciprocal tariffs underscores his administration’s focus on reforming trade practices to ensure fairness for the United States.
Original Source: www.tribuneindia.com
