Reciprocal US tariffs against India, China, other nations from Apr 2

In his address to the joint session of Congress, Trump called tariffs charged by India and other countries, including China, ‘very unfair’.

Trump said he wants to impose the same tariff on imports from foreign countries as those nations impose on US exports.

"Other countries have used tariffs against us for decades and now it's our turn to start using them against those other countries. On average, the European Union, China, Brazil, India, Mexico and Canada—have you heard of them—and countless other nations charge us tremendously higher tariffs than we charge them. It's very unfair," Trump said Tuesday night in the longest address to the Joint Session of the Congress.

"India charges us auto tariffs higher than 100 per cent…..China's average tariff on our products is twice... and South Korea's average tariff is four times higher. Think of that, four times higher. And we give so much help militarily and in so many other ways to South Korea. But that's what happens. This is happening by friend and foe. This system is not fair to the United States. It never was," he was quoted as saying by global media reports.

His administration would also retaliate to non-monetary tariffs with ‘non-monetary barriers’, Trump said.

"They don't even allow us in their market. We will take in trillions and trillions of dollars that create jobs like we have never seen before. I did it with China, and I did it with others, and the Biden administration couldn't do anything about it because there was so much money, they couldn't do anything about it," he said.

"We have been ripped off for decades by nearly every country on Earth, and we will not let that happen any longer," he added.

Higher tariffs on Indian exports like textiles would make these products more expensive in the United States, reducing demand, which may hurt Indian manufacturers and exporters and raise prices for American consumers.

The announcements came after the United States decided to impose 25-per cent tariffs on its neighbouring countries and two of its biggest trade partners, Mexico and Canada.

The United States also doubled tariffs on Chinese goods from 10 per cent to 20 per cent, citing lack of action from China on its alleged role in fentanyl production and exports.

Fibre2Fashion News Desk (DS)