Trump's Announcement of Reciprocal Tariffs

On April 2, 2025, U.S. President  announced the imposition of reciprocal tariffs on countries imposing significant levies on American products.

Key Points from the Announcement

• Date of Announcement: April 2, 2025.
• Location: Rose Garden, White House.
• Significance: The President declared the "Liberation Day" as a pivotal moment for American industry.
• Objective: Reclaim America's economic destiny and enhance its wealth.

Tariffs Imposed by Other Countries

• India: 70% on American motorcycles.
• Vietnam: 75% on American products.
• Thailand: 60% on American products.

U.S. Tariffs and Comparisons

• The U.S. charges only a 2.4% tariff on foreign motorcycles.
• Automobiles: Previous tariff of 2.5% on foreign-made automobiles.
• The European Union imposes tariffs of over 10% and a 20% VAT.

Reciprocal Tariffs on India

• India's overall tariffs including "currency manipulation and trade barriers": 56%.
• The U.S. announced a "discounted reciprocal tariff" of 26% on India.

President Trump's Remarks

• He emphasized that the U.S. had been lenient with tariffs for decades.
• Cited starting tariff adjustments seven years ago with China.

Diplomatic Context

• President Trump referred to the Prime Minister of India as a "great friend" but criticized the high tariffs imposed by India.
• Highlighted the necessity for balanced trade relationships.