America imposed 26% reciprocal tariff on India
US President Donald Trump announced a 26% tariff (reciprocal, i.e. tit for tat tariff) on India late on Wednesday night. Trump said- ‘India is very strict. PM Modi is my good friend, but is not treating us properly.’
Trump said, “India imposes up to 52% tariff on America, so America will impose a 26% tariff on India. We will charge about half the tariff that other countries are charging from us. So the tariffs will not be completely reciprocal. I could have done this, but it would have been difficult for many countries. We did not want to do this.”
Apart from India, 34% tariff will be imposed on China, 20% on European Union, 25% on South Korea, 24% on Japan, 46% on Vietnam and 32% on Taiwan. America has decided to impose half the tariff on about 60 countries as compared to their tariff.
Regarding this, Indian officials say that they are evaluating the tariff imposed by Trump. India’s focus is not on imposing retaliatory tariffs but on addressing America’s concerns through dialogue.
Reciprocal tariffs will be implemented from April 9
A 10% baseline (minimum) tariff will be imposed on all goods coming to the US. The baseline tariff will be implemented on April 5 and the reciprocal tariff will be implemented after 12 midnight on April 9. The baseline tariff is imposed on imports under normal rules of trade, while the reciprocal tariff is imposed in response to tariffs imposed by another country.
