President Trump has announced reciprocal tariffs against several countries, including India, effective April 2. He defended this action by citing unfairly high tariffs imposed by foreign nations, particularly on U.S. autos. Trump’s speech emphasized a strong retaliatory stance on trade, garnering applause from his supporters.
In a recent address to Congress, President Donald Trump announced that the United States will implement reciprocal tariffs against several countries, effective April 2. He emphasized the burden of high tariffs imposed by nations like India, stating that the U.S. must retaliate for years of unfair trade practices by others.
Trump specifically called out India for imposing tariffs on auto imports that exceed 100%. He noted that other countries also impose significant tariffs compared to the U.S., citing averages from China and South Korea where their tariffs are double and four times higher than American tariffs, respectively.
During the speech, Trump stated, “On April 2nd… whatever they tariff us, we will tariff them, a reciprocal back and forth,” indicating that if countries place non-monetary barriers against U.S. goods, the U.S. would respond similarly to restrict their products. This announcement was met with loud applause from his supporters in the Congressional chamber.
The announcement follows recent actions where the U.S. has already established a 25% tariff on goods from Canada and Mexico and doubled tariffs on Chinese goods from 10% to 20%. Trump’s administration is taking a strong stance on trade, aiming to address perceived imbalances in tariffs across different countries.
President Trump’s address highlighted a new tariff implementation approach, focusing on reciprocal measures. By addressing high tariffs set by other nations, particularly India, he seeks to level the playing field for American businesses. The reactions from Congress indicate significant support for his tariff strategy, which aims to enhance domestic manufacturing and respond to trade inequalities.
Original Source: www.hindustantimes.com
