 "President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington, as Commerce Secretary Howard Lutnick listens. Source: AP")
US President Donald Trump on Wednesday (April 2) slapped a ‘discounted’ 26 per cent tariff on Indian imports, against India’s 52 per cent tariff on US goods.
The US leader said the tariff rate imposed by other nations was calculated based on cumulative tariffs, including non-monetary barriers.
Trump called Indian Prime Minister Narendra Modi “a great friend” but added “he hasn’t been treating us right.”
Trump slapped the highest ‘discounted reciprocal tariffs’ on Vietnam and India among US partners and allies. While Vietnam faces a tariff of 46 per cent, Indian goods entering the US face a tariff of 26 per cent.
The US president said his tariff policy was “kind reciprocal,” saying he could’ve been much harsher on US trading partners.
The president said the tariff rates he’s imposing, steep as they are, don’t match the levies that some countries impose on US exporters.
In his address, he also whipped out a chart showing specific tariff rates:
China: 34% (in response to China’s 67%)
European Union: 20%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
India: 26%
South Korea: 25%
Thailand: 36%
Declaring these reciprocal tariffs, Trump said the US won’t continue with a unilateral policy of ’economic surrender’. “The United States cannot continue with a unilateral policy of economic surrender,” he said. “We have to take care of our people and we have to take care of our people first.”