According to Trump, this tariff imposed by him will boost domestic production. He said that his move will bring hundreds of billions of new revenue to the US government and bring equality in global trade.
President Donald Trump announced new tariffs on all his trading partner countries on Wednesday. Announcing this in the Rose Guard of the White House, Trump said that 34% tax will be imposed on goods imported from China. While 20% tariff will be imposed on others including European countries. On one hand, his announcement has posed a threat to the global economy, on the other hand, the possibility of trade war has increased.
On Wednesday, Trump signed the executive order and called it Liberation Day and said that April 2, 2025 will be the rebirth of American industry. A 10% baseline tariff will be imposed on all imported goods in the US, which will directly affect more than 180 countries. 34 percent tariff was imposed on countries like China, 20 percent on the European Union, 25 percent on South Korea, 46 percent on Vietnam, 32 percent on Taiwan and 10 percent on Australia.
According to Trump, this tariff imposed by him will boost domestic production. He said that his move will bring hundreds of billions of new revenue to the US government and bring equality in global trade.
Let us see how much reciprocal tariff was imposed on which countries by Donald Trump:
34% tariff has been imposed on China, European Union: 20%, South Korea: 25%, India: 26%, Vietnam: 46%, Taiwan: 32%, Japan: 24%, Thailand: 36%, Switzerland: 31%, Indonesia: 32%, Malaysia: 24%, Cambodia: 49%, United Kingdom: 10%, South Africa: 30%, Brazil: 10%, Bangladesh: 37%, Singapore: 10%. Israel: 17%. Philippines: 17%, Chile: 10%, Australia: 10%, Pakistan: 29%, Turkey: 10%, Sri Lanka: 44%, Colombia: 10% tariff has been imposed.
In his address from the White House, Trump said – My American friends, this is the liberation day which was awaited for a long time. April 2, 2025 will be remembered again for the rebirth of American industry, after which the America Prosperous campaign was started again. Trump further said that taxpayers were being cheated for more than 50 years. But now this is not going to happen further. The board led by Trump had decided to impose 52% US tariff on India and discounted reciprocal tariff of 26% will be imposed.
President Trump said that India’s trade behavior has been very tough with America. Referring to PM Modi, he said that he is our good friend, but I told him – you are our friend, but you are not treating America well. They are charging 52% on us. You have to understand that for many years and decades we did not charge anything. And this happened when I came to power in America seven years ago and started this on China.
