Following his announcement of sweeping tariffs worldwide, US President Donald Trump said that a 10 per cent tariff will be imposed on all countries, effective April 5
Pic/AFP
US President Donald Trump declared on Wednesday a 10 per cent baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States, threatening to upend much of the architecture of the global economy and trigger broader trade wars.
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Following his announcement of sweeping tariffs worldwide, US President Donald Trump said that a 10 per cent tariff will be imposed on all countries, effective April 5.
Additionally, starting April 9, countries with the largest trade deficits with the US will face higher, individualised tariffs.
The US has announced 26 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce the country's trade deficit and boost manufacturing. The move is expected to impact India's exports to the US.
Here is the full list of reciprocal tariffs that Donald Trump announced:
1. China: 34 per cent
2. European Union: 20 per cent
3. South Korea: 25 per cent
4. India: 26 per cent
5. Vietnam: 46 per cent
6. Taiwan: 32 per cent
7. Japan: 24 per cent
8. Thailand: 36 per cent
9. Switzerland: 31 per cent
10. Indonesia: 32 per cent
11. Malaysia: 24 per cent
12. Cambodia: 49 per cent
13. United Kingdom: 10 per cent
14. South Africa: 30 per cent
15. Brazil: 10 per cent
16. Bangladesh: 37 per cent
17. Singapore: 10 per cent
18. Israel: 17 per cent
19. Philippines: 17 per cent
20. Chile: 10 per cent
21. Australia: 10 per cent
22. Pakistan: 29 per cent
23. Turkey: 10 per cent
24. Sri Lanka: 44 per cent
25. Colombia: 10 per cent
Donald Trump announces tariffs on all countries
President Trump, in a historic measure to counter higher duties on American products imposed globally, announced reciprocal tariffs on about 60 countries.
"This is Liberation Day, a long-awaited moment. April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again. We are going to make it wealthy, good, and wealthy," Trump said in his remarks from the Rose Garden at the White House on Wednesday.
He said that the United States charges other countries only a 2.4 per cent tariff on motorcycles, but Thailand and others are charging much higher rates, like 60 per cent, India 70 per cent, Vietnam 75 per cent, and others charge even higher rates.
As he announced the tariffs, he held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union charge, along with the reciprocal tariffs that these countries will now have to pay.
The chart indicated that India charged 52 per cent tariffs, including currency manipulation and trade barriers, and America would now charge India a discounted reciprocal tariff of 26 per cent. However, according to the White House documents, there will be a 27 per cent duty on India.
"India, very, very tough. Very, very tough. The prime minister just left. He's a great friend of mine, but I said, you're a friend of mine, but you're not treating us right. They charge us 52 per cent. You have to understand, we charge them almost nothing for years and years and decades, and it was only seven years ago, when I came in, that we started with China," Trump said.
Describing the tariffs as a "mixed bag and not a setback", an official in India said the commerce ministry is analysing the impact of 27 per cent reciprocal tariffs imposed by the US on India.
(With inputs from Agencies)
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