Trump's controversial new tariffs take effect from midnight, marking a fresh chapter in the ongoing trade tensions. While Trump promises "historic results," global leaders are reacting with caution. Canada calls the move "tough but an opportunity," Mexico relies on its trade deal shield, and Venezuela vows retaliation.

Trump's midnight tariffs spark global reaction and warning

President Donald Trump's sweeping new tariffs have triggered worldwide condemnation and sparked fears of a global recession. As key U.S. trading partners brace for economic impact, prices are expected to rise and factory hubs in Asia face major disruption. This video explains who will be hit the hardest, what’s behind Trump’s tariff strategy, and how it could reshape global trade.

Trump Tariffs: Tariffs could raise US import duties to 22. 5%, hit prices

The US has slapped 26% reciprocal tariffs on Indian exports, escalating trade tensions between the two nations. The White House claims India's non-tariff barriers hurt American businesses, while experts say this move pressures India to accelerate trade talks. Watch this report to know more!

India gains edge as Trump tariffs threaten jobs in Bangladesh, Sri Lanka

In a move that blindsided allies and rivals alike, President Donald Trump has fired the first shots in a sweeping new trade war, imposing brutal tariffs that threaten to upend global markets. As economic alliances fracture, the world braces for a new era of uncertainty.

Trump's world war: Worst US tariffs in 100 years

President Trump has announced a 10% universal tariff, affecting even uninhabited territories like Heard and McDonald Islands, Cocos Islands, and the Comoros. Meanwhile, imports from the Falkland Islands and Myanmar face steep duties of 41% and 44%, respectively. Watch this to know more!

Trump tariffs: Trump imposes tariffs on uninhabited islands near Antarctica

Tariff has become a "hot topic" this week as US President Donald Trump announced sweeping "reciprocal tariffs" on several nations on the Liberation Day (Tuesday).&nbsp;
The US president said that 10% baseline tariff on all nations, and higher rates for individual countries will boost the US economy and protect jobs.&nbsp;
Initially, the word "tariff" was first brought up by Trump last month, when he released a memorandum announcing his intention to impose &ldquo;reciprocal tariffs&rdquo; under the Fair and Reciprocal Plan 1 (FRP).&nbsp;
Since then, it has indeed become Trump's favourite word, along with "deportation" of course.&nbsp;
Also read: <a href="https://www.wionews.com/world/trumps-new-tariffs-hit-ukraine-but-not-russia-heres-why-8921422">Trump&rsquo;s new tariffs hit Ukraine, penguins, and almost every country, but not Russia. Here&rsquo;s why</a>
<h2>What does tariff mean 'literally'?&nbsp;</h2>
The roots of the word 'tariff' lie in the Arabic meaning "information, notification, explanation, a making known&rdquo; and was derived from Arabic &ldquo;to notify, make known&rdquo;.
The early appearance of the word appeared in a Sicilian document from 1338. The word is also borne in the title of a Venetian merchant guide written around 1345, according to a report by South China Morning Post.&nbsp;
It was later borrowed into English, in the world's earliest documentation was in William Garrard&rsquo;s 1591 manual The Art of War. Advising on the logistical organisation of battalions, the author recommended: &ldquo;So that helping your memorie with certain Tablei or Tariffas made of purpose to know the numbers of the souldiers that are to enter into ranke.&rdquo;
Also read: <a href="https://www.wionews.com/india-news/what-is-indian-government-plan-to-counter-trump-26-percent-tariffs-step-one-carefully-examining-the-impact-8921190">Indian government&rsquo;s big plan to counter Trump&rsquo;s 26 per cent tariffs? Step one: &lsquo;Carefully examining&rsquo; the impact</a>
Here, with the "tariffas", Garrard meant arithmetical tables or statements, a kind of cheat sheet, in this case for calculating troops arrays.&nbsp;
However, today, with the globalisation, it has a more specific meaning - an official list or schedule that sets forth the customs duties to be imposed on imports and exports, a table or book of rates, or the whole body or system of such duties as established in any country.&nbsp;
The most common kind of tariffs are ad valorem, which are levied as a fixed percentage of the value of the imports.&nbsp;
Tariffs are a form of tax applied on imports from other countries. All the countries have been using tariffs for long. But after World War II, tariffs largely fell out of favour in advanced economies because they often lead to reduced trade, higher prices for consumers, and retaliation from abroad.&nbsp;
Also read: <a href="https://www.wionews.com/india-news/what-is-indian-government-plan-to-counter-trump-26-percent-tariffs-step-one-carefully-examining-the-impact-8921190">Indian government&rsquo;s big plan to counter Trump&rsquo;s 26 per cent tariffs? Step one: &lsquo;Carefully examining&rsquo; the impact</a>
<h2>Why do countries use tariffs?</h2>
Almost every nation imposes tariffs on exports from other nations. Generally, wealthy countries maintain low tariffs compared to developing countries.&nbsp;
However, there are several reasons behind it:&nbsp;
Developing countries might have more fragile industries that they want to protect or they might have fewer sources of government revenue.&nbsp;
For example, the US maintained high tariffs for decades, until income taxes supplanted tariffs as the most important source of revenue in the 1930s.&nbsp;
Also read: <a href="https://www.wionews.com/world/did-donald-trump-spare-canada-and-mexico-from-the-latest-round-of-tariffs-white-house-reveals-truth-8920512">Did Donald Trump really spare Canada and Mexico from latest round of tariffs? White House reveals truth</a>
(With inputs from agencies)

World: The US president said that 10% baseline tariff on all nations, and higher rates for individual countries will boost the US economy and protect jobs.

Tariff has become a "hot topic" this week as US President Donald Trump announced sweeping "reciprocal tariffs" on several nations on the Liberation Day (Tuesday). The US president said that 10% baseline tariff on all nations, and higher rates for individual countries will boost the US economy and protect jobs. Initially, the word "tariff" was first brought up by Trump last month, when he released a memorandum announcing his intention to impose “reciprocal tariffs” under the Fair and Reciprocal Plan 1 (FRP). Since then, it has indeed become Trump's favourite word, along with "deportation" of course. Also read: Trump’s new tariffs hit Ukraine, penguins, and almost every country, but not Russia. Here’s why What does tariff mean 'literally'? The roots of the word 'tariff' lie in the Arabic meaning "information, notification, explanation, a making known” and was derived from Arabic “to notify, make known”. The early appearance of the word appeared in a Sicilian document from 1338. The word is also borne in the title of a Venetian merchant guide written around 1345, according to a report by South China Morning Post. It was later borrowed into English, in the world's earliest documentation was in William Garrard’s 1591 manual The Art of War. Advising on the logistical organisation of battalions, the author recommended: “So that helping your memorie with certain Tablei or Tariffas made of purpose to know the numbers of the souldiers that are to enter into ranke.” Also read: Indian government’s big plan to counter Trump’s 26 per cent tariffs? Step one: ‘Carefully examining’ the impact Here, with the "tariffas", Garrard meant arithmetical tables or statements, a kind of cheat sheet, in this case for calculating troops arrays. However, today, with the globalisation, it has a more specific meaning - an official list or schedule that sets forth the customs duties to be imposed on imports and exports, a table or book of rates, or the whole body or system of such duties as established in any country. The most common kind of tariffs are ad valorem, which are levied as a fixed percentage of the value of the imports. Tariffs are a form of tax applied on imports from other countries. All the countries have been using tariffs for long. But after World War II, tariffs largely fell out of favour in advanced economies because they often lead to reduced trade, higher prices for consumers, and retaliation from abroad. Also read: Indian government’s big plan to counter Trump’s 26 per cent tariffs? Step one: ‘Carefully examining’ the impact Why do countries use tariffs? Almost every nation imposes tariffs on exports from other nations. Generally, wealthy countries maintain low tariffs compared to developing countries. However, there are several reasons behind it: Developing countries might have more fragile industries that they want to protect or they might have fewer sources of government revenue. For example, the US maintained high tariffs for decades, until income taxes supplanted tariffs as the most important source of revenue in the 1930s. Also read: Did Donald Trump really spare Canada and Mexico from latest round of tariffs? White House reveals truth (With inputs from agencies)

'Tariff this, tariff that': Where does Trump's 'favourite' word comes from? SPOILER! It's not US

US President Donald Trump has unveiled a raft of punishing tariffs ranging from a minimum of 10% to as high as 49%, targeting countries around the world. The US president said he will impose a 10% universal tariff on all imported foreign goods in addition to reciprocal tariffs on a few dozen countries.

Trump tariffs: New tariffs primarily based on existing trade imbalances

Trump reciprocal tariffs India reaction: In its first response to Donald Trump's reciprocal tariffs, India has termed it not a "setback" but a "mixed bag".
The US president announced a 26 per cent tariff on India on what he called 'Liberation Day' on Wednesday (Apr 3), calling Prime Minister Narendra Modi a "great friend" who didn't treat the US right.&nbsp;
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m90vgf00-1fb68vmn-afptraf9">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Washington | Speaking at the Make America Wealthy Again Event, US President Donald Trump says, "India very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52 per cent and we charge them almost&hellip; <a href="https://t.co/bQ1qH1OEfI">pic.twitter.com/bQ1qH1OEfI</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1907535872083505436?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
Speaking to the Indian news agency PTI, an official said the commerce ministry is analysing the impact of the reciprocal tariffs or import duties imposed by the US.
"It is a mixed bag and not a setback for India...The ministry is analysing the impact of the announced tariffs," the official said.
He also said there is a provision that if India would address the concerns of the US, the Trump administration can consider reducing the duties.
As per reports, the universal 10 per cent tariffs will come into effect on all imports into the US from April 5 and the remaining 16 per cent from April 10.
Read more | <a href="https://www.wionews.com/world/want-to-avoid-trumps-reciprocal-tariffs-trump-himself-has-a-simple-solution-for-world-leaders-8919111" rel="dofollow">Want to avoid Trump&rsquo;s reciprocal tariffs? Trump himself has a &lsquo;simple&rsquo; solution for world leaders</a>
<h2>Trump's tariff announcement on India&nbsp;</h2>
Holding up a chart that showed the tariffs that all countries charge, along with the reciprocal tariffs that these countries will now have to pay, Trump termed the US tariffs as 'discounted'.&nbsp;
"This is Liberation Day, a long-awaited moment. 2nd April 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 remarks from the Rose Garden at the White House.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m90vhxwn-iqf03gyn-c0u6rj0g">
US President Donald Trump imposes 26% "reciprocal tariffs" on India, followed by 34% on China, 20% on EU, and 24% on Japan <a href="https://t.co/0uhLSCKSOV">pic.twitter.com/0uhLSCKSOV</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1907535148595220897?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
Read more | <a href="https://www.wionews.com/world/world-leaders-react-to-trumps-trade-tariffs-tariffs-drive-inflation-hurt-people-on-both-sides-put-jobs-at-risk-8919270" rel="dofollow">World leaders react to Trump's trade tariffs: 'Tariffs drive inflation, hurt people on both sides, put jobs at risk'</a>
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.
"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...," he said.
Read more | <a href="https://www.wionews.com/world/trump-announces-26-discounted-tariffs-on-india-says-pm-modi-is-a-friend-but-he-hasnt-been-treating-us-right-8919110" rel="dofollow">THESE six things to get expensive for Americans after trade tariffs. List here</a>
<h2>Bilateral trade agreement between India and US&nbsp;</h2>
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (Sep-Oct) of this year.
On Tuesday (Apr 1), India agreed to the Terms of Reference for the Bilateral Trade Agreement with the US following an intervention from the Prime Minister&rsquo;s Office (PMO).
As per reports, both sides are now ready for formal negotiations where India is expected to lower tariffs on American goods in exchange for US concessions.
Read more | <a href="https://www.wionews.com/world/trump-announces-26-discounted-tariffs-on-india-says-pm-modi-is-a-friend-but-he-hasnt-been-treating-us-right-8919110" rel="dofollow">Trump announces 26% 'discounted' tariffs on India, says 'PM Modi is a friend, but he hasn't been treating us right'</a>
(With inputs from agencies)

India has responded to Donald Trump's reciprocal tariff announcement, stating that its commerce ministry is analyzing the impact. India News Business & Economy World

Trump reciprocal tariffs India reaction: In its first response to Donald Trump's reciprocal tariffs, India has termed it not a "setback" but a "mixed bag". The US president announced a 26 per cent tariff on India on what he called 'Liberation Day' on Wednesday (Apr 3), calling Prime Minister Narendra Modi a "great friend" who didn't treat the US right. #WATCH | Washington | Speaking at the Make America Wealthy Again Event, US President Donald Trump says, "India very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52 per cent and we charge them almost… pic.twitter.com/bQ1qH1OEfI — ANI (@ANI) April 2, 2025 Speaking to the Indian news agency PTI, an official said the commerce ministry is analysing the impact of the reciprocal tariffs or import duties imposed by the US. "It is a mixed bag and not a setback for India...The ministry is analysing the impact of the announced tariffs," the official said. He also said there is a provision that if India would address the concerns of the US, the Trump administration can consider reducing the duties. As per reports, the universal 10 per cent tariffs will come into effect on all imports into the US from April 5 and the remaining 16 per cent from April 10. Read more | Want to avoid Trump’s reciprocal tariffs? Trump himself has a ‘simple’ solution for world leaders Trump's tariff announcement on India Holding up a chart that showed the tariffs that all countries charge, along with the reciprocal tariffs that these countries will now have to pay, Trump termed the US tariffs as 'discounted'. "This is Liberation Day, a long-awaited moment. 2nd April 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 remarks from the Rose Garden at the White House. US President Donald Trump imposes 26% "reciprocal tariffs" on India, followed by 34% on China, 20% on EU, and 24% on Japan pic.twitter.com/0uhLSCKSOV — ANI (@ANI) April 2, 2025 Read more | World leaders react to Trump's trade tariffs: 'Tariffs drive inflation, hurt people on both sides, put jobs at risk' 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. "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...," he said. Read more | THESE six things to get expensive for Americans after trade tariffs. List here Bilateral trade agreement between India and US India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (Sep-Oct) of this year. On Tuesday (Apr 1), India agreed to the Terms of Reference for the Bilateral Trade Agreement with the US following an intervention from the Prime Minister’s Office (PMO). As per reports, both sides are now ready for formal negotiations where India is expected to lower tariffs on American goods in exchange for US concessions. Read more | Trump announces 26% 'discounted' tariffs on India, says 'PM Modi is a friend, but he hasn't been treating us right' (With inputs from agencies)

Trump tariffs 'not a setback' for India: Official calls it a mixed bag as US prez imposes 26 per cent tariffs on India

US President Donald Trump kicked off his &ldquo;Liberation Day&rdquo; event to loud cheers, stepping onto the stage as the band played Hail to the Chief, the personal anthem of the president of the United States. With his signature 'Trumpisma (charisma but Trumpian)', he declared, &ldquo;My fellow Americans, this is Liberation Day!&rdquo;
He told the crowd that &ldquo;April 2, 2025, will forever be remembered as the day American industry was reborn,&rdquo; insisting that for decades, the US had been &ldquo;looted, pillaged, raped, and plundered&rdquo; by foreign nations. 
The whole world was waiting with their breaths held to see how much it would cost them, but it's not the worst!
Also read: <a href="https://www.wionews.com/world/want-to-avoid-trumps-reciprocal-tariffs-trump-himself-has-a-simple-solution-for-world-leaders-8919111" rel="dofollow noopener" target="_blank">Want to avoid Trump&rsquo;s reciprocal tariffs? Trump himself has a &lsquo;simple&rsquo; solution for world leaders</a>
<h2>&lsquo;Kind reciprocal&rsquo; tariffs &ndash; but not exactly even</h2>
While Trump called these tariffs &ldquo;reciprocal,&rdquo; he admitted they&rsquo;re only about half of what other countries charge the US.
"We will charge them approximately half of what they are and have been charging us," he said. 
&ldquo;I could have done that, yes, but it would have been tough for a lot of countries. We didn&rsquo;t want to do that,&rdquo; he added.
Instead of going full force, Trump said his approach is more "kind reciprocal," a softer hit that still sends a message. It's like giving other nations a taste of their own medicine, just not the full dose.
Also read: <a href="https://www.wionews.com/world/donald-trump-to-sign-executive-order-on-reciprocal-tariffs-to-usher-in-golden-age-of-america-8919067" rel="dofollow noopener" target="_blank">'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden&nbsp;age&nbsp;of&nbsp;America'</a>
<h2>Who&rsquo;s paying what? The new tariff rates</h2>
Here&rsquo;s a breakdown of the new tariffs by country:
China &ndash; 34% 
European Union &ndash; 20% 
Japan &ndash; 24% (Say goodbye to cheap Toyotas)
South Korea &ndash; 25% (Samsung prices might go up)
Switzerland &ndash; 31% 
United Kingdom &ndash; 10%
Taiwan &ndash; 32% (What about the chips?)
Malaysia &ndash; 24%
India &ndash; 26%
Brazil &ndash; 10%
Indonesia &ndash; 32%
Vietnam &ndash; 46% (The highest tariff on the list)
Singapore &ndash; 10%
Ukraine &ndash; 10%
Venezuela &ndash; 15%
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<a href="https://t.co/v5WMU5wofc">pic.twitter.com/v5WMU5wofc</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1907531727683334384?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
<h2>Trump signs two major executive orders</h2>
To wrap up the event, Trump signed two executive orders that he says will shake up global trade:
Closing the &lsquo;de minimis loophole&rsquo; &ndash; This loophole has allowed China to send cheap goods into the US without paying taxes or import duties.
Order implementing &lsquo;reciprocal tariffs&rsquo; &ndash; Trump is now slapping tariffs on imported goods, including a 25% tax on all foreign cars and tariffs between 10% and 49% on other imports.
(With inputs from agencies)

World: While Trump called these tariffs “reciprocal,” he admitted they’re only about half of what other countries charge the US.

US President Donald Trump kicked off his “Liberation Day” event to loud cheers, stepping onto the stage as the band played Hail to the Chief, the personal anthem of the president of the United States. With his signature 'Trumpisma (charisma but Trumpian)', he declared, “My fellow Americans, this is Liberation Day!” He told the crowd that “April 2, 2025, will forever be remembered as the day American industry was reborn,” insisting that for decades, the US had been “looted, pillaged, raped, and plundered” by foreign nations. The whole world was waiting with their breaths held to see how much it would cost them, but it's not the worst! Also read: Want to avoid Trump’s reciprocal tariffs? Trump himself has a ‘simple’ solution for world leaders ‘Kind reciprocal’ tariffs – but not exactly even While Trump called these tariffs “reciprocal,” he admitted they’re only about half of what other countries charge the US. "We will charge them approximately half of what they are and have been charging us," he said. “I could have done that, yes, but it would have been tough for a lot of countries. We didn’t want to do that,” he added. Instead of going full force, Trump said his approach is more "kind reciprocal," a softer hit that still sends a message. It's like giving other nations a taste of their own medicine, just not the full dose. Also read: 'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden age of America' Who’s paying what? The new tariff rates Here’s a breakdown of the new tariffs by country: China – 34% European Union – 20% Japan – 24% (Say goodbye to cheap Toyotas) South Korea – 25% (Samsung prices might go up) Switzerland – 31% United Kingdom – 10% Taiwan – 32% (What about the chips?) Malaysia – 24% India – 26% Brazil – 10% Indonesia – 32% Vietnam – 46% (The highest tariff on the list) Singapore – 10% Ukraine – 10% Venezuela – 15% pic.twitter.com/v5WMU5wofc — Rapid Response 47 (@RapidResponse47) April 2, 2025 Trump signs two major executive orders To wrap up the event, Trump signed two executive orders that he says will shake up global trade: Closing the ‘de minimis loophole’ – This loophole has allowed China to send cheap goods into the US without paying taxes or import duties. Order implementing ‘reciprocal tariffs’ – Trump is now slapping tariffs on imported goods, including a 25% tax on all foreign cars and tariffs between 10% and 49% on other imports. (With inputs from agencies)

Trump’s ‘kind reciprocal’ tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST

US President Donald Trump has announced to impose 26% 'discounted' reciprocal tariffs on India as per the US government calculation.&nbsp;
He called Indian Prime Minister Narendra Modi "a great friend", however adding that "he hasn't been treating us right."
While speaking at the White House event, the US president said he is implementing "reciprocal tariffs" on all countries of "approximately half" of what they charge the US.&nbsp;
Also read: <a href="https://www.wionews.com/world/trump-tariffs-announcement-news-live-updates-liberation-day-india-reciprocal-tariffs-global-us-stock-market-imports-duties-8918711">Trump tariffs announcement LIVE: Trump announces 25% tariff on all foreign automakers as he begins 'liberation day' event</a>
He explained that if China charges the US a tariff of 67%, so the United States will charge China a 34% tariff.
Bringing out a chart to show the audience, he showed that the US will charge the European Union a 20% tariff, Vietnam a 46% tariff, Taiwan 32%, Japan 24%, India 26%, South Korea 25%, Thailand 36% and more.
Trump said that the tariffs has announced will generate &ldquo;$6 trillion in investments&rdquo;. He further warned the world leaders, saying that if they want an exemption to his &ldquo;reciprocal tariffs&rdquo; should change their trade policy.
Also read: <a href="https://www.wionews.com/world/donald-trump-to-sign-executive-order-on-reciprocal-tariffs-to-usher-in-golden-age-of-america-8919067">'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden&nbsp;age&nbsp;of&nbsp;America'</a>
&ldquo;Terminate your own tariffs, drop your barriers, don&rsquo;t manipulate your currencies,&rdquo; he said, &ldquo;and start buying tens of billions of dollars of American goods.&rdquo;
Trump said that he doesn&rsquo;t place the blame on other countries for &ldquo;this calamity.&rdquo;
&ldquo;I blame former presidents and past leaders who weren&rsquo;t doing their job. They let it happen, and they let it happen to an extent that nobody can even believe. That&rsquo;s why, effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,&rdquo; the president said.
He further said that today is one of the most important days&rdquo; in American history. &ldquo;It&rsquo;s our declaration of economic independence,&rdquo; Trump said.
Also read: <a href="https://www.wionews.com/world/biggest-questions-on-trumps-reciprocal-tariffs-answered-8918572">&lsquo;Liberation Day&rsquo;: Biggest questions on Trump&rsquo;s reciprocal tariffs answered</a>
The president said the United States would use the money generated from tariffs to &ldquo;reduce our taxes and pay down our national debt.&rdquo;
At the beginning of the event, the US president also said that the tariffs he is implementing today will go into effect at midnight. They will include a 25% tariff on all foreign-made automobiles.
Also read: <a href="https://www.wionews.com/world/trump-tariff-threat-tariffs-are-effective-tool-in-achieving-economic-objectives-stresses-white-house-8919030">Trump tariff threat: 'Tariffs are effective tool in achieving economic objectives', stresses White House</a>
(With inputs from agencies)

World, india news: US president said he is implementing "reciprocal tariffs" on all countries of "approximately half" of what they charge the US.

US President Donald Trump has announced to impose 26% 'discounted' reciprocal tariffs on India as per the US government calculation. He called Indian Prime Minister Narendra Modi "a great friend", however adding that "he hasn't been treating us right." While speaking at the White House event, the US president said he is implementing "reciprocal tariffs" on all countries of "approximately half" of what they charge the US. Also read: Trump tariffs announcement LIVE: Trump announces 25% tariff on all foreign automakers as he begins 'liberation day' event He explained that if China charges the US a tariff of 67%, so the United States will charge China a 34% tariff. Bringing out a chart to show the audience, he showed that the US will charge the European Union a 20% tariff, Vietnam a 46% tariff, Taiwan 32%, Japan 24%, India 26%, South Korea 25%, Thailand 36% and more. Trump said that the tariffs has announced will generate “$6 trillion in investments”. He further warned the world leaders, saying that if they want an exemption to his “reciprocal tariffs” should change their trade policy. Also read: 'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden age of America' “Terminate your own tariffs, drop your barriers, don’t manipulate your currencies,” he said, “and start buying tens of billions of dollars of American goods.” Trump said that he doesn’t place the blame on other countries for “this calamity.” “I blame former presidents and past leaders who weren’t doing their job. They let it happen, and they let it happen to an extent that nobody can even believe. That’s why, effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” the president said. He further said that today is one of the most important days” in American history. “It’s our declaration of economic independence,” Trump said. Also read: ‘Liberation Day’: Biggest questions on Trump’s reciprocal tariffs answered The president said the United States would use the money generated from tariffs to “reduce our taxes and pay down our national debt.” At the beginning of the event, the US president also said that the tariffs he is implementing today will go into effect at midnight. They will include a 25% tariff on all foreign-made automobiles. Also read: Trump tariff threat: 'Tariffs are effective tool in achieving economic objectives', stresses White House (With inputs from agencies)

Trump announces 26% 'discounted' tariffs on India, says 'PM Modi is a friend, but he hasn't been treating us right'

US President Donald Trump has launched what he calls a "liberation day" event. He announced an executive order that will introduce new "retaliatory tariffs" aimed at countries imposing trade barriers on the United States.
Trump said that 2 April 2025 would be remembered as the day American industry was revived. &ldquo;For decades our country has been looted, pillaged, raped and plundered by nations near and far,&rdquo; he said, blaming both allies and adversaries for harming US economic interests.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m90dufvs-jz9uk4af-cnwetf22">
"Foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream," says US President Donald Trump, as he announces reciprocal tariffs . . .<a href="https://twitter.com/hashtag/TrumpTariffs?src=hash&amp;ref_src=twsrc%5Etfw">#TrumpTariffs</a> <a href="https://twitter.com/hashtag/DonaldTrump?src=hash&amp;ref_src=twsrc%5Etfw">#DonaldTrump</a> <a href="https://t.co/sGxdkcU2yS">pic.twitter.com/sGxdkcU2yS</a>
&mdash; WION (@WIONews) <a href="https://twitter.com/WIONews/status/1907530646408286242?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
Trump added that &ldquo;jobs and factories will come roaring back into our country, and you see it happening already.&rdquo;&nbsp;
&ldquo;We will pry open foreign markets and break down foreign trade barriers. Ultimately, more production at home will mean stronger competition and lower prices for consumers. This will be, indeed, the golden age of America,&rdquo; he said.
Trump also confirmed his plan to sign an executive order implementing &ldquo;reciprocal tariffs&rdquo; on various countries. &ldquo;Reciprocal, that means they do it to us and we do it to them. Very simple. Can't get any simpler than that,&rdquo; he said.
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Defending tariffs, Trump said,&nbsp;"We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves."&nbsp;
&nbsp;"This is why we have the big deficits. This is why we have that, amount of debt that's been placed on our heads over the last number of years, and we're really not taking it anymore," he added.
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(With inputs from agencies)

World: Trump also confirmed his plan to sign an executive order implementing “reciprocal tariffs” on various countries. “Reciprocal, that means they do it to us and we do it to them. Very simple. Can't get any simpler than that,” he said.

US President Donald Trump has launched what he calls a "liberation day" event. He announced an executive order that will introduce new "retaliatory tariffs" aimed at countries imposing trade barriers on the United States. Trump said that 2 April 2025 would be remembered as the day American industry was revived. “For decades our country has been looted, pillaged, raped and plundered by nations near and far,” he said, blaming both allies and adversaries for harming US economic interests. "Foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream," says US President Donald Trump, as he announces reciprocal tariffs . . .#TrumpTariffs #DonaldTrump pic.twitter.com/sGxdkcU2yS — WION (@WIONews) April 2, 2025 Trump added that “jobs and factories will come roaring back into our country, and you see it happening already.” “We will pry open foreign markets and break down foreign trade barriers. Ultimately, more production at home will mean stronger competition and lower prices for consumers. This will be, indeed, the golden age of America,” he said. Trump also confirmed his plan to sign an executive order implementing “reciprocal tariffs” on various countries. “Reciprocal, that means they do it to us and we do it to them. Very simple. Can't get any simpler than that,” he said. Defending tariffs, Trump said, "We subsidize a lot of countries and keep them going and keep them in business," Trump said about trade partners, specifically Mexico and Canada. "Why are we doing this? I mean, at what point do we say you got to work for yourselves." "This is why we have the big deficits. This is why we have that, amount of debt that's been placed on our heads over the last number of years, and we're really not taking it anymore," he added. (With inputs from agencies)

'US has been looted, raped': Trump signs executive order on 'reciprocal tariffs' to usher in 'golden age of America'

US President Donald Trump is set to announce reciprocal tariffs on a host of nations on Wednesday (Apr 2) at a White House event. Trump has deemed the day as &ldquo;Liberation Day&rdquo; to &ldquo;make America wealthy again.&rdquo;&nbsp;
Here are some of the biggest questions about what Trump has planned.
<h2>Which countries will be affected by Trump&rsquo;s tariffs?</h2>
In March, Treasury Department Secretary Scott Bessent suggested that the administration would target 15 per cent of countries, which are the biggest trade allies of the US. Calling them &lsquo;the Dirty 15&rsquo;, Bessent did not specify their names.
Also read | <a href="https://www.wionews.com/world/trump-tariff-hike-date-time-and-what-to-expect-from-donald-trump-tariff-liberation-day-announcement-8918430">Trump reciprocal tariffs: Date, time and what to expect from the 'Liberation Day' announcement</a>
According to a CNBC analysis based on countries with highest goods trade deficits with the US, it will likely include China, Canada, Mexico, the European Union, India, Germany, Italy, Switzerland, France, Austria, Sweden, Ireland, Japan, Taiwan, South Korea, Thailand, Malaysia, Indonesia and Vietnam.
<h2>How will the tariff rates be calculated?</h2>
Bessent earlier said that the administration would not only consider tariffs but also a wide range of trade policies and economic barriers imposed by each nation to calculate its reciprocal tariff rate.
He added that if a country doesn&rsquo;t change its policies they &ldquo;will put up the tariff wall to protect our economy, protect our workers, and protect our industries.&rdquo;
Also read | <a href="https://www.wionews.com/world/its-liberation-day-in-america-how-world-is-reacting-as-trump-sets-time-for-reciprocal-tariffs-announcement-8918253">'IT'S LIBERATION DAY IN AMERICA': How world is reacting as Trump sets tone for reciprocal tariffs' announcement</a>
If Trump imposes a flat universal tariff, the administration will have to decide whether to impose the new levies as additional tariffs to the existing ones or replace them.
Trump has already imposed new taxes on goods from Canada, Mexico and China, along with all steel and aluminium imports.
<h2>Why is Trump imposing tariffs?</h2>
Trump has cited a wide range of reasons to defend his sweeping tariffs on foreign goods. He views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries.
Also read | <a href="https://www.wionews.com/world/who-is-howard-lutnick-trumps-tariff-man-facing-heat-as-reciprocal-tariff-threat-looms-8916294">Who is Howard Lutnick? Trump's 'tariff man' facing heat as reciprocal tariff threat looms</a>
The Trump administration says that tariffs will put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US. In addition, it would protect US industries like steel, aluminium, and copper, which are essential for national security.&nbsp;
The US president also believes that tariffs on foreign vehicles will support domestic car manufacturers. He further introduced the &ldquo;reciprocal&rdquo; tariffs to prevent other countries from retaliating and imposing higher levies on US goods.
Trump also aims to generate revenue through tariffs that will help fund tax cuts, government spending, and even balance the federal budget.
Also read | <a href="https://www.wionews.com/autonews/us-auto-sales-surge-ahead-of-trump-tariffs-benefiting-pickups-and-suvs-8916942">US auto sales surge ahead of Trump tariffs, benefiting pickups and SUVs</a>
<h2>What impact will tariffs have on the economy?</h2>
The tariffs imposed by Trump could result in huge costs for businesses and consumers. Higher levies on foreign food, energy and auto parts could lead to higher costs for Americans amid high inflation.
According to economists at Goldman Sachs, Trump&rsquo;s tariffs could boost inflation, slow the economy and raise the unemployment rate.
(With inputs from agencies)

World | In March, Treasury Department Secretary Scott Bessent suggested that the administration would target 15 per cent of countries, which are the biggest trade allies of the US. Calling them ‘the Dirty 15’, Bessent did not specify their names.

US President Donald Trump is set to announce reciprocal tariffs on a host of nations on Wednesday (Apr 2) at a White House event. Trump has deemed the day as “Liberation Day” to “make America wealthy again.” Here are some of the biggest questions about what Trump has planned. Which countries will be affected by Trump’s tariffs? In March, Treasury Department Secretary Scott Bessent suggested that the administration would target 15 per cent of countries, which are the biggest trade allies of the US. Calling them ‘the Dirty 15’, Bessent did not specify their names. Also read | Trump reciprocal tariffs: Date, time and what to expect from the 'Liberation Day' announcement According to a CNBC analysis based on countries with highest goods trade deficits with the US, it will likely include China, Canada, Mexico, the European Union, India, Germany, Italy, Switzerland, France, Austria, Sweden, Ireland, Japan, Taiwan, South Korea, Thailand, Malaysia, Indonesia and Vietnam. How will the tariff rates be calculated? Bessent earlier said that the administration would not only consider tariffs but also a wide range of trade policies and economic barriers imposed by each nation to calculate its reciprocal tariff rate. He added that if a country doesn’t change its policies they “will put up the tariff wall to protect our economy, protect our workers, and protect our industries.” Also read | 'IT'S LIBERATION DAY IN AMERICA': How world is reacting as Trump sets tone for reciprocal tariffs' announcement If Trump imposes a flat universal tariff, the administration will have to decide whether to impose the new levies as additional tariffs to the existing ones or replace them. Trump has already imposed new taxes on goods from Canada, Mexico and China, along with all steel and aluminium imports. Why is Trump imposing tariffs? Trump has cited a wide range of reasons to defend his sweeping tariffs on foreign goods. He views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries. Also read | Who is Howard Lutnick? Trump's 'tariff man' facing heat as reciprocal tariff threat looms The Trump administration says that tariffs will put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US. In addition, it would protect US industries like steel, aluminium, and copper, which are essential for national security. The US president also believes that tariffs on foreign vehicles will support domestic car manufacturers. He further introduced the “reciprocal” tariffs to prevent other countries from retaliating and imposing higher levies on US goods. Trump also aims to generate revenue through tariffs that will help fund tax cuts, government spending, and even balance the federal budget. Also read | US auto sales surge ahead of Trump tariffs, benefiting pickups and SUVs What impact will tariffs have on the economy? The tariffs imposed by Trump could result in huge costs for businesses and consumers. Higher levies on foreign food, energy and auto parts could lead to higher costs for Americans amid high inflation. According to economists at Goldman Sachs, Trump’s tariffs could boost inflation, slow the economy and raise the unemployment rate. (With inputs from agencies)

‘Liberation Day’: Biggest questions on Trump’s reciprocal tariffs answered

US President Trump is set to roll out a fresh wave of tariffs, dubbed 'Liberation Day' measures, with immediate effect. The White House confirmed the tariffs will begin right after the announcement, sparking global reactions. Watch this report for more details!

Trump keeps the world guessing on tariffs until the last minute

Trump set to announce new tariffs with immediate effect

US President Donald Trump is just hours away from announcing the major reciprocal tariffs on several nations on "Liberation Day".&nbsp;
Trump took to Truth Social on Wednesday (April 2), posting, "IT&rsquo;S LIBERATION DAY IN AMERICA!", expressing enthusiasm as the whole world awaits his announcement.&nbsp;
The announcement is scheduled to take place at the White House at 4:00 EST (1:30 am IST).&nbsp;
The new tariffs which will be announced on April 2, will take effect immediately. On next day, additional tariffs on cars will begin, according to the White House.
Also read: <a href="https://www.wionews.com/world/who-is-howard-lutnick-trumps-tariff-man-facing-heat-as-reciprocal-tariff-threat-looms-8916294">Who is Howard Lutnick? Trump's 'tariff man' facing heat as reciprocal tariff threat looms</a>
Trump call this day "Liberation Day" because he believes these tariffs will help American businesses. Notably, Trump is open to talking with other governments and business leaders who want lower tariffs, the White House press secretary said.&nbsp;
<h2>How the nations are reacting?</h2>
<h3>'Will hurt both sides': Germany</h3>
Germany on Wednesday warned that trade wars hurt "both sides" as Europe's biggest economy braces for Trump's wide-ranging new "reciprocal tariffs".&nbsp;
"The costs of a trade war do not fall on one side but can become expensive for both sides," government spokesman Steffen Hebestreit said.&nbsp;
Berlin was "ready and willing to negotiate at the European level with the United States" to avoid such a dispute," he added.&nbsp;
Also read: <a href="https://www.wionews.com/autonews/us-auto-sales-surge-ahead-of-trump-tariffs-benefiting-pickups-and-suvs-8916942">US auto sales surge ahead of Trump tariffs, benefiting pickups and SUVs</a>
<h3>'Major economic disorder': France</h3>
Meanwhile, France expects that new US tariffs on European products to be in the range of 20% to 25%, which would lead to &ldquo;major economic disorder,&rdquo; a government spokeswoman said.&nbsp;
"They risk being pretty powerful. People are speaking of tariffs between 20% and 25%," Sophie Primas told reporters.&nbsp;
"This will obviously lead to major economic disorder on the products impacted, not only in Europe but also in the United States," she added.
<h3>'People are going to die': Ireland</h3>
Moreover, Ireland's pharmaceuticals sector is also worried that the impact of new tariffs could drive up the cost of medicines worldwide and disrupt supply chains.&nbsp;
Irish pharma CEO, Gareth Sheridan at Nutriband warned, "We make chemotherapy treatments, we make heart medications, we make antibiotics, we make pain medications, we make diabetes medications. These types of treatments can&rsquo;t afford a disruption in the global supply chain. You know, as a comparable situation, tariffs on automobiles &ndash; if you can&rsquo;t afford a BMW, okay, buy a Ford and you can still get to work."
"If you have a 25% hike on chemotherapy and you can&rsquo;t afford your treatment anymore, what&rsquo;s the alternative? I mean, ultimately, people are going to die, and they&rsquo;re going to die because they can&rsquo;t afford to live," the CEO said.
Also read: <a href="https://www.wionews.com/business-economy/trumps-liberation-day-tariffs-spark-global-trade-concerns-8916112">Trump's 'Liberation Day' tariffs spark global trade concerns</a>
<h3>'Internet shutdowns': India</h3>
According to a US report, India had the highest average Most-Favoured-Nation (MFN) applied tariff rate among major global economies in 2023, standing at 17%&mdash;with 13.5% for non-agricultural goods and 39% for agricultural products.
The Office of the US Trade Representative (USTR) raised concerns over India&rsquo;s high import duties on farm products, restrictions on imports, foreign direct investment barriers, and regulatory challenges in the insurance sector.
Moreover, it also warned of internet shutdowns in India and disruptions to US digital services.
<h3>'Potential countermeasures': Canada &nbsp;</h3>
Canada also reacted as Prime Minister Mark Carney vowed to defend Canadian workers and warned of potential countermeasures.
<h3>'Avert a trade war': Italy</h3>
Italian Prime Minister Giorgia Meloni warned that the tariffs would severely impact Italian businesses and be unfair to American consumers.&nbsp;
&ldquo;This is the reason why I remain convinced that we must work to avert a trade war that would benefit neither the United States nor Europe in any way,&rdquo; she said.
Also read: <a href="https://www.wionews.com/world/donald-trump-claims-india-going-to-drop-tariffs-substantially-ahead-of-liberation-day-8914713">'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day'</a>
(With inputs from agencies)

World: Trump took to Truth Social and posted, "IT’S LIBERATION DAY IN AMERICA!", expressing enthusiasm as the whole world awaits his announcement.

US President Donald Trump is just hours away from announcing the major reciprocal tariffs on several nations on "Liberation Day". Trump took to Truth Social on Wednesday (April 2), posting, "IT’S LIBERATION DAY IN AMERICA!", expressing enthusiasm as the whole world awaits his announcement. The announcement is scheduled to take place at the White House at 4:00 EST (1:30 am IST). The new tariffs which will be announced on April 2, will take effect immediately. On next day, additional tariffs on cars will begin, according to the White House. Also read: Who is Howard Lutnick? Trump's 'tariff man' facing heat as reciprocal tariff threat looms Trump call this day "Liberation Day" because he believes these tariffs will help American businesses. Notably, Trump is open to talking with other governments and business leaders who want lower tariffs, the White House press secretary said. How the nations are reacting? 'Will hurt both sides': Germany Germany on Wednesday warned that trade wars hurt "both sides" as Europe's biggest economy braces for Trump's wide-ranging new "reciprocal tariffs". "The costs of a trade war do not fall on one side but can become expensive for both sides," government spokesman Steffen Hebestreit said. Berlin was "ready and willing to negotiate at the European level with the United States" to avoid such a dispute," he added. Also read: US auto sales surge ahead of Trump tariffs, benefiting pickups and SUVs 'Major economic disorder': France Meanwhile, France expects that new US tariffs on European products to be in the range of 20% to 25%, which would lead to “major economic disorder,” a government spokeswoman said. "They risk being pretty powerful. People are speaking of tariffs between 20% and 25%," Sophie Primas told reporters. "This will obviously lead to major economic disorder on the products impacted, not only in Europe but also in the United States," she added. 'People are going to die': Ireland Moreover, Ireland's pharmaceuticals sector is also worried that the impact of new tariffs could drive up the cost of medicines worldwide and disrupt supply chains. Irish pharma CEO, Gareth Sheridan at Nutriband warned, "We make chemotherapy treatments, we make heart medications, we make antibiotics, we make pain medications, we make diabetes medications. These types of treatments can’t afford a disruption in the global supply chain. You know, as a comparable situation, tariffs on automobiles – if you can’t afford a BMW, okay, buy a Ford and you can still get to work." "If you have a 25% hike on chemotherapy and you can’t afford your treatment anymore, what’s the alternative? I mean, ultimately, people are going to die, and they’re going to die because they can’t afford to live," the CEO said. Also read: Trump's 'Liberation Day' tariffs spark global trade concerns 'Internet shutdowns': India According to a US report, India had the highest average Most-Favoured-Nation (MFN) applied tariff rate among major global economies in 2023, standing at 17%—with 13.5% for non-agricultural goods and 39% for agricultural products. The Office of the US Trade Representative (USTR) raised concerns over India’s high import duties on farm products, restrictions on imports, foreign direct investment barriers, and regulatory challenges in the insurance sector. Moreover, it also warned of internet shutdowns in India and disruptions to US digital services. 'Potential countermeasures': Canada Canada also reacted as Prime Minister Mark Carney vowed to defend Canadian workers and warned of potential countermeasures. 'Avert a trade war': Italy Italian Prime Minister Giorgia Meloni warned that the tariffs would severely impact Italian businesses and be unfair to American consumers. “This is the reason why I remain convinced that we must work to avert a trade war that would benefit neither the United States nor Europe in any way,” she said. Also read: 'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day' (With inputs from agencies)

'IT'S LIBERATION DAY IN AMERICA': How world is reacting as Trump sets tone for reciprocal tariffs' announcement

US President Donald Trump is poised to unveil sweeping new liberation day tariffs today. But has kept the world guessing until the last minute about the scope of the move that could spark a global trade war. Trump will roll out the measures flanked by cabinet members in the Rose Garden of the white house at 4:00 pm local time. While Trump insisted he has decided on the reciprocal tariffs hitting countries that have targeted the United States, the white house admitted he was still ironing out the details with less than 24 hours to go.<o:p></o:p>
White House press secretary Karoline Leavitt said, &ldquo;He is going to announce that decision tomorrow. I don't want to get ahead of the president. This is obviously a very big day. He's with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker. And you will all find out in about 24 hours from now."<o:p></o:p>
Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America&rsquo;s trade imbalances with friends and foes alike. <o:p></o:p>
<h2 class="MsoNormal">Democrats call trump tariffs made up emergency<o:p></o:p></h2>
While critics say that not only will US consumers bear the brunt as importers pass on the cost, but that they could increase the risk of a damaging recession at home and abroad, democratic senators accused trump of advocating policies that are designed to offset the cost of extending his 2017 tax cuts. They said the cost to the average family could be close to 5,000 to 6,500 US dollars this year.<o:p></o:p>
Senate minority leader Chuck Schumer, a democrat of New York, said, "President Trump says, quote, 'I couldn't care less if prices go up.' to American families, America, you hear that Donald Trump says he couldn't care less if you pay more. And it's not just a little -- the estimates go as high as 6,500 dollars more for the average American family."<o:p></o:p>
Senator Mark Warner, a democrat of Virginia, "Don't take my words about how much these tariffs are going to cost. Take the ever-colourful Peter Navarro, who -- Trump -- was one of his trade people, says it will raise $100 billion off the car tariffs each year, 600 billion off the reciprocal tariffs, $700 billion tariffs, who's going to pay those American consumers? This will be the largest tax increase on American consumers in modern times - end of story."<o:p></o:p>
Global markets have been jittery for days ahead of Trump's announcement, while the countries most likely in the crosshairs have called for talks even as they ready retaliatory measures. <o:p></o:p>
Canadian Prime Minister Mark Carney said his government will be "very deliberate" in its countermeasures if the US President proceeds with his proposed tariffs. He emphasised that Canada will not allow itself to be weakened by US policies.<o:p></o:p>
Canada's Prime Minister, Mark Carney, said, &ldquo;President Trump is in the process of trying to fundamentally restructure the US economy. And that means that our economy here needs to change dramatically as well. And as I made clear to President Trump in our call last week, I will reject, I will reject all attempts to weaken Canada. All attempts to wear us down, to break us down so that America can own us.&rdquo;<o:p></o:p>
While Mexican President Claudia Sheinbaum said her government does not subscribe to a retaliatory "eye for an eye" approach regarding US tariffs, but it is prepared to respond strategically.<o:p></o:p>
Mexican President, Claudia Sheinbaum, said, &ldquo;We do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation. Of course, measures are taken because measures are taken on the other side, but the dialogue must continue. It's not about tit-for-tat, but about what is best for Mexico and how to face this situation.&rdquo;<o:p></o:p>
(With the inputs from the agencies)<o:p></o:p>

Business & Economy: Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America’s trade imbalances with friends and foes alike.

US President Donald Trump is poised to unveil sweeping new liberation day tariffs today. But has kept the world guessing until the last minute about the scope of the move that could spark a global trade war. Trump will roll out the measures flanked by cabinet members in the Rose Garden of the white house at 4:00 pm local time. While Trump insisted he has decided on the reciprocal tariffs hitting countries that have targeted the United States, the white house admitted he was still ironing out the details with less than 24 hours to go. White House press secretary Karoline Leavitt said, “He is going to announce that decision tomorrow. I don't want to get ahead of the president. This is obviously a very big day. He's with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker. And you will all find out in about 24 hours from now." Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America’s trade imbalances with friends and foes alike. Democrats call trump tariffs made up emergency While critics say that not only will US consumers bear the brunt as importers pass on the cost, but that they could increase the risk of a damaging recession at home and abroad, democratic senators accused trump of advocating policies that are designed to offset the cost of extending his 2017 tax cuts. They said the cost to the average family could be close to 5,000 to 6,500 US dollars this year. Senate minority leader Chuck Schumer, a democrat of New York, said, "President Trump says, quote, 'I couldn't care less if prices go up.' to American families, America, you hear that Donald Trump says he couldn't care less if you pay more. And it's not just a little -- the estimates go as high as 6,500 dollars more for the average American family." Senator Mark Warner, a democrat of Virginia, "Don't take my words about how much these tariffs are going to cost. Take the ever-colourful Peter Navarro, who -- Trump -- was one of his trade people, says it will raise $100 billion off the car tariffs each year, 600 billion off the reciprocal tariffs, $700 billion tariffs, who's going to pay those American consumers? This will be the largest tax increase on American consumers in modern times - end of story." Global markets have been jittery for days ahead of Trump's announcement, while the countries most likely in the crosshairs have called for talks even as they ready retaliatory measures. Canadian Prime Minister Mark Carney said his government will be "very deliberate" in its countermeasures if the US President proceeds with his proposed tariffs. He emphasised that Canada will not allow itself to be weakened by US policies. Canada's Prime Minister, Mark Carney, said, “President Trump is in the process of trying to fundamentally restructure the US economy. And that means that our economy here needs to change dramatically as well. And as I made clear to President Trump in our call last week, I will reject, I will reject all attempts to weaken Canada. All attempts to wear us down, to break us down so that America can own us.” While Mexican President Claudia Sheinbaum said her government does not subscribe to a retaliatory "eye for an eye" approach regarding US tariffs, but it is prepared to respond strategically. Mexican President, Claudia Sheinbaum, said, “We do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation. Of course, measures are taken because measures are taken on the other side, but the dialogue must continue. It's not about tit-for-tat, but about what is best for Mexico and how to face this situation.” (With the inputs from the agencies)

Trump's 'Liberation Day' tariffs spark global trade concerns

US President <a href="https://www.wionews.com/donald-trump" rel="dofollow">Donald Trump</a> is set to introduce a new wave of "Liberation Day" tariffs, which will take effect immediately after his announcement on Wednesday (April 02), White House Press Secretary Karoline Leavitt confirmed.
"My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter.
So, what do these tariffs mean, who actually pays for them, and how could they affect consumers? Here&rsquo;s a closer look.
<h2>How tariffs work and who pays for them?</h2>
A tariff is a government-imposed tax on goods imported from other countries. While these levies are meant to make foreign products less competitive, the reality is that the costs often get passed along the supply chain.
Contrary to popular belief, tariffs are not paid by foreign governments. Instead, US-based importers bear the direct financial burden. However, the impact doesn&rsquo;t stop there:
<ul>
<li>Consumers in the US often face higher prices as businesses raise costs to cover the tariffs.</li>
<li>Retailers and manufacturers using imported materials may see rising production expenses, forcing them to either absorb the losses or increase prices.</li>
<li>Foreign suppliers may cut their prices to stay competitive, reducing their profits.</li>
<li>Some governments respond by devaluing their currencies or offering tax rebates to counterbalance the tariffs, as China has done previously.</li>
</ul>
<h2>Trump&rsquo;s strategy: What is he trying to achieve?</h2>
Trump views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries. His administration argues that these tariffs will:
<ul>
<li>Put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US.</li>
<li>Protect key industries, such as steel, aluminium, and copper, which are vital to national security.</li>
<li>Support domestic car manufacturers by imposing higher import duties on foreign vehicles.</li>
<li>Level the playing field by introducing "reciprocal" tariffs, preventing other countries from imposing higher taxes on American exports.</li>
<li>Generate significant revenue, which Trump claims will help fund tax cuts, government spending, and even balance the federal budget.</li>
</ul>
<h2>How will these tariffs impact consumer prices?</h2>
Since the tariffs will target major trading partners, the costs of everyday goods could rise.
Food prices &ndash; Fresh produce from Mexico, such as avocados, tomatoes, and strawberries, may become more expensive within weeks.
Alcohol and beverages &ndash; Beer, tequila, and other spirits could see significant price hikes, as Mexico supplies a large share of US agricultural imports.
Electronics and automobiles &ndash; Prices may stay steady for a while due to existing inventory, but if tariffs remain in place, expect higher costs on cars and tech products.
Despite warnings from economists and trade experts, Trump has played down concerns about price hikes, telling Congress, "There will be a little disturbance, but we are OK with that. It won&rsquo;t be much."
However, history suggests that American businesses and consumers will ultimately bear the cost, just as they did during his first term.

World: "My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter.

US President Donald Trump is set to introduce a new wave of "Liberation Day" tariffs, which will take effect immediately after his announcement on Wednesday (April 02), White House Press Secretary Karoline Leavitt confirmed. "My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter. So, what do these tariffs mean, who actually pays for them, and how could they affect consumers? Here’s a closer look. How tariffs work and who pays for them? A tariff is a government-imposed tax on goods imported from other countries. While these levies are meant to make foreign products less competitive, the reality is that the costs often get passed along the supply chain. Contrary to popular belief, tariffs are not paid by foreign governments. Instead, US-based importers bear the direct financial burden. However, the impact doesn’t stop there: Consumers in the US often face higher prices as businesses raise costs to cover the tariffs. Retailers and manufacturers using imported materials may see rising production expenses, forcing them to either absorb the losses or increase prices. Foreign suppliers may cut their prices to stay competitive, reducing their profits. Some governments respond by devaluing their currencies or offering tax rebates to counterbalance the tariffs, as China has done previously. Trump’s strategy: What is he trying to achieve? Trump views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries. His administration argues that these tariffs will: Put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US. Protect key industries, such as steel, aluminium, and copper, which are vital to national security. Support domestic car manufacturers by imposing higher import duties on foreign vehicles. Level the playing field by introducing "reciprocal" tariffs, preventing other countries from imposing higher taxes on American exports. Generate significant revenue, which Trump claims will help fund tax cuts, government spending, and even balance the federal budget. How will these tariffs impact consumer prices? Since the tariffs will target major trading partners, the costs of everyday goods could rise. Food prices – Fresh produce from Mexico, such as avocados, tomatoes, and strawberries, may become more expensive within weeks. Alcohol and beverages – Beer, tequila, and other spirits could see significant price hikes, as Mexico supplies a large share of US agricultural imports. Electronics and automobiles – Prices may stay steady for a while due to existing inventory, but if tariffs remain in place, expect higher costs on cars and tech products. Despite warnings from economists and trade experts, Trump has played down concerns about price hikes, telling Congress, "There will be a little disturbance, but we are OK with that. It won’t be much." However, history suggests that American businesses and consumers will ultimately bear the cost, just as they did during his first term.

'To take effect immediately': What are Trump's reciprocal tariffs, and who pays them? Here's your complete guide

With US President Donald Trump&rsquo;s April 2 deadline for imposing reciprocal tariffs approaching, businesses and policymakers remain uncertain about how they will be applied. While the tariffs aim to address America&rsquo;s trade deficit, Washington is simultaneously negotiating a new trade deal with India, adding further complexity to the situation.
The impact on Indian businesses will depend on whether the tariffs are imposed at the product, sector, or country level. The US has been India&rsquo;s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India&rsquo;s total exports, 6.22% of imports, and 10.73% of bilateral trade.
Also read: <a href="https://www.wionews.com/world/will-retaliate-if-necessary-eu-chief-warns-us-of-strong-plan-against-trump-tariffs-8914805">&lsquo;Will retaliate, if necessary&rsquo;: EU chief warns US of &lsquo;strong plan&rsquo; against Trump tariffs</a>
<h2>Key sectors facing higher tariffs</h2>
India exports products from 30 different sectors to the US, including six in agriculture and 24 in industry. If sector-wide tariffs are imposed, the following goods are expected to be affected:
Alcohol, Wines, and Spirits &ndash; The highest tariff hike of 122.10% will be applied, though exports in this category total only $19.2 million.
Dairy Products &ndash; Exports worth $181.49 million will be hit by a 38.23% tariff, making Indian ghee, butter, and milk powder more expensive and reducing market share.
Also read: <a href="https://www.wionews.com/world/planning-to-buy-a-new-car-heres-how-it-will-cost-an-arm-and-a-leg-after-trumps-reciprocal-tariffs-8914769">Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs</a>
Fish, Meat, and Processed Seafood &ndash; A 27.83% tariff hike will impact $2.58 billion in exports, with shrimp exports suffering the most.
Live Animals and Animal Products &ndash; A 27.75% tariff will affect exports valued at $10.31 million.
Processed Food, Sugar, and Cocoa &ndash; With $1.03 billion in exports, these products will face a 24.99% tariff, making Indian snacks and confectionery costlier in the US.
Also read: <a href="https://www.wionews.com/world/donald-trump-claims-india-going-to-drop-tariffs-substantially-ahead-of-liberation-day-8914713">'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day'</a>
Footwear &ndash; This sector will see a 15.56% tariff increase.
Diamonds, Gold, and Silver &ndash; Exports worth $11.88 billion will face a 13.32% tariff hike, potentially making Indian jewellery less competitive.
Pharmaceuticals &ndash; A 10.90% tariff differential will push up prices for generic medicines and speciality drugs.
Edible Oils &ndash; Coconut and mustard oil will become more expensive with a 10.67% tariff.
<h2>Sectors unaffected</h2>
Certain industries, including ores, minerals, petroleum, and garments, will not see any new tariffs under the proposed plan.
Also read: <a href="https://www.wionews.com/world/trump-reciprocal-tariffs-liberation-day-of-confusion-day-officials-scramble-to-implement-plan-that-can-hit-india-china-canada-8914082">Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement</a>
(With inputs from agencies)

World: The US has been India’s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India’s total exports, 6.22% of imports, and 10.73% of bilateral trade. India News

With US President Donald Trump’s April 2 deadline for imposing reciprocal tariffs approaching, businesses and policymakers remain uncertain about how they will be applied. While the tariffs aim to address America’s trade deficit, Washington is simultaneously negotiating a new trade deal with India, adding further complexity to the situation. The impact on Indian businesses will depend on whether the tariffs are imposed at the product, sector, or country level. The US has been India’s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India’s total exports, 6.22% of imports, and 10.73% of bilateral trade. Also read: ‘Will retaliate, if necessary’: EU chief warns US of ‘strong plan’ against Trump tariffs Key sectors facing higher tariffs India exports products from 30 different sectors to the US, including six in agriculture and 24 in industry. If sector-wide tariffs are imposed, the following goods are expected to be affected: Alcohol, Wines, and Spirits – The highest tariff hike of 122.10% will be applied, though exports in this category total only $19.2 million. Dairy Products – Exports worth $181.49 million will be hit by a 38.23% tariff, making Indian ghee, butter, and milk powder more expensive and reducing market share. Also read: Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs Fish, Meat, and Processed Seafood – A 27.83% tariff hike will impact $2.58 billion in exports, with shrimp exports suffering the most. Live Animals and Animal Products – A 27.75% tariff will affect exports valued at $10.31 million. Processed Food, Sugar, and Cocoa – With $1.03 billion in exports, these products will face a 24.99% tariff, making Indian snacks and confectionery costlier in the US. Also read: 'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day' Footwear – This sector will see a 15.56% tariff increase. Diamonds, Gold, and Silver – Exports worth $11.88 billion will face a 13.32% tariff hike, potentially making Indian jewellery less competitive. Pharmaceuticals – A 10.90% tariff differential will push up prices for generic medicines and speciality drugs. Edible Oils – Coconut and mustard oil will become more expensive with a 10.67% tariff. Sectors unaffected Certain industries, including ores, minerals, petroleum, and garments, will not see any new tariffs under the proposed plan. Also read: Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement (With inputs from agencies)

Price hikes incoming! Trump’s reciprocal tariffs on India hit tomorrow: Here’s how your groceries will be affected

US President Donald Trump said he plans to start his reciprocal tariff push with "All countries," curbing speculation that he could limit the initial scope of the levies. He said he "Couldn't care less" if firms raise prices in response. Trump, in his second term, is also least worried about the deep sell-off in global markets. Stagflation fears are rising and will constrain the Federal Reserve's ability to cut rates further. A roller-coaster quarter for markets came to an end. But Trump's policies and stagflation fears are driving investors out of riskier assets. European stocks are beating US equities by the most on record. Japanese stocks are in a correction, and gold is at a fresh record high.<o:p></o:p>
<h2 class="MsoNormal">Bets on US recession surge<o:p></o:p></h2>
The US administration is expected to unveil a broad slate of so-called reciprocal tariffs against US trading partners. That is looming as the next potential body blow for markets. Amidst those fears, stagflation emerges as the winning bet. Like-for-like or reciprocal tariffs will hit US trading partners who have enjoyed strong trade surpluses over the years. The US had its largest trade deficit with China at 295.4 billion dollars last year. The next is with the European Union, with America's trade deficit at 235.6 billion dollars in 2024. Followed by Mexico at 171.8 billion dollars and Vietnam at 123.5 billion dollars. The US trade deficit with Ireland and Germany stood at over 80 billion dollars. Taiwan, Japan, South Korea and Canada accounted for over 60 billion dollars. Trade deficit with India, Thailand and Italy were at over 40 billion dollars last year. US deficit with Switzerland stood at a touch below 40 billion dollars in 2024. Comparitively, Malaysia, Indonesia, France, Austria, and Sweden had a smaller deficit with the US, so with Trump calling for reciprocal tariffs, all those countries are likely to face equivalent U.S. import levies.<o:p></o:p>
The countries that are likely to be spared on Trump's so-called 'Liberation Day' are the Netherlands, South and Central America, Hong Kong, Australia, and the United Kingdom. In 2024, America had a trade surplus with those countries.<o:p></o:p>
(With inputs from the agencies)<o:p></o:p>

Business & Economy: Trump, in his second term, is also least worried about the deep sell-off in global markets. Stagflation fears are rising and will constrain the Federal Reserve's ability to cut rates further.

US President Donald Trump said he plans to start his reciprocal tariff push with "All countries," curbing speculation that he could limit the initial scope of the levies. He said he "Couldn't care less" if firms raise prices in response. Trump, in his second term, is also least worried about the deep sell-off in global markets. Stagflation fears are rising and will constrain the Federal Reserve's ability to cut rates further. A roller-coaster quarter for markets came to an end. But Trump's policies and stagflation fears are driving investors out of riskier assets. European stocks are beating US equities by the most on record. Japanese stocks are in a correction, and gold is at a fresh record high. Bets on US recession surge The US administration is expected to unveil a broad slate of so-called reciprocal tariffs against US trading partners. That is looming as the next potential body blow for markets. Amidst those fears, stagflation emerges as the winning bet. Like-for-like or reciprocal tariffs will hit US trading partners who have enjoyed strong trade surpluses over the years. The US had its largest trade deficit with China at 295.4 billion dollars last year. The next is with the European Union, with America's trade deficit at 235.6 billion dollars in 2024. Followed by Mexico at 171.8 billion dollars and Vietnam at 123.5 billion dollars. The US trade deficit with Ireland and Germany stood at over 80 billion dollars. Taiwan, Japan, South Korea and Canada accounted for over 60 billion dollars. Trade deficit with India, Thailand and Italy were at over 40 billion dollars last year. US deficit with Switzerland stood at a touch below 40 billion dollars in 2024. Comparitively, Malaysia, Indonesia, France, Austria, and Sweden had a smaller deficit with the US, so with Trump calling for reciprocal tariffs, all those countries are likely to face equivalent U.S. import levies. The countries that are likely to be spared on Trump's so-called 'Liberation Day' are the Netherlands, South and Central America, Hong Kong, Australia, and the United Kingdom. In 2024, America had a trade surplus with those countries. (With inputs from the agencies)

US stagflation fears rise ahead of tariff hit

As April 2 approaches, Trump's trade war escalates with fresh tariffs set to take effect. Markets brace for impact amid rising stagflation fears. What industries will be affected? How will global trade respond? Here's what you need to know.

Trump’s new tariffs set to hit on April 2 – what’s coming?

President Donald Trump is preparing to roll out his most aggressive trade move yet&nbsp;as his long-promised &ldquo;Liberation Day in America&rdquo; arrives on Wednesday. After already imposing tariffs that have shaken global markets, Trump is now set to launch a sweeping round of reciprocal tariffs aimed at shrinking the United States&rsquo; record trade deficit.
Since returning to the White House, Trump has slapped tariffs on goods from China, Mexico, and Canada, as well as on steel, aluminium, foreign vehicles, and auto parts. He has also threatened further duties on traditional allies like the European Union, going as far as to mention tariffs on European wine.
Also read: <a href="https://www.wionews.com/world/hell-be-gone-in-couple-weeks-jd-vance-urges-trump-to-sack-waltz-after-signal-leak-trump-says-not-yet-8903908">'He&rsquo;ll be gone in couple weeks': JD Vance urges Trump to sack Waltz after Signal leak; Trump says 'not yet'</a>
But April 2 is seen as the real turning point in Trump&rsquo;s &ldquo;America First&rdquo; trade agenda. That&rsquo;s the day he will formally announce the reciprocal tariffs, targeting countries responsible for the bulk of the US&rsquo;s $1.2 trillion trade deficit. The measures will officially take effect on Thursday.
<h2>What are reciprocal tariffs?</h2>
Trump&rsquo;s plan involves levying tariffs on imports from countries that currently impose tariffs on US goods. Back in February, he signed a memorandum instructing US trade officials to compile a country-by-country list of matching tariff rates.
<h2>Why is Trump doing this?</h2>
According to Trump, the aim is to counter what he sees as unfair trade practices by foreign governments. By matching tariffs, the administration hopes to make importing into the US more costly, thereby encouraging companies to manufacture within the country.
Also read: <a href="https://www.wionews.com/world/trump-praises-modi-as-very-smart-while-complaining-about-indias-brutal-tariffs-says-tarrif-talks-between-us-would-work-out-very-well-8903634">Trump praises Modi as 'very smart,' says tariff talks between us would 'work out very well'</a>
Trump has repeatedly argued that the US has allowed other nations to apply tariffs on its exports without any pushback. &ldquo;We can&rsquo;t do without it,&rdquo; he said, insisting the tariffs are necessary for both national and international economic security.
<h2>Who are the 'Dirty 15'?</h2>
Treasury Secretary Scott Bessent recently explained that the tariffs would primarily target countries responsible for the largest share of the US trade deficit and those imposing the steepest tariffs on US exports.
Also read: <a href="https://www.wionews.com/world/bad-bad-things-will-happen-trump-warns-iran-on-nuclear-deal-8902025">'Bad, bad things will happen': Trump warns Iran on nuclear deal</a>
&ldquo;There&rsquo;s what we would call the &lsquo;Dirty 15,&rsquo;&rdquo; Bessent said, noting these countries account for just 15% of US trading partners but represent a large portion of overall trade. While the official list has not been published, countries with significant trade imbalances include China, the EU, Mexico, Vietnam, Japan, and Canada, among others.
<h2>Is Trump narrowing the scope?</h2>
Bessent hinted that the administration might limit the scope of the tariffs, contrary to earlier sweeping proposals. For instance, while Trump has imposed new tariffs on the auto industry, other sectors&mdash;such as semiconductors and pharmaceuticals&mdash;have not yet been affected.
Asked about potential exemptions for life-saving medicines, Trump said, &ldquo;We&rsquo;ll be announcing it soon. But we have to bring pharmaceuticals, drugs and pharmaceuticals, back into our country.&rdquo;
Despite weeks of building anticipation, Trump softened his rhetoric this week. &ldquo;We&rsquo;re going to make it very lenient,&rdquo; he told reporters after signing the latest round of auto tariffs. &ldquo;It&rsquo;ll be, in many cases, less than the tariff that they&rsquo;ve been charging us for decades.&rdquo;
White House Press Secretary Karoline Leavitt echoed this, saying Trump believes the tariff levels &ldquo;would be more conservative than many people are expecting.&rdquo;
<h2>Will this hurt the US economy?</h2>
Economists have warned that extensive tariffs could harm an already fragile economy. Tariffs tend to raise prices for consumers and businesses, and retaliatory measures from other countries could dampen exports and shake investor confidence.
Stock markets have already shown signs of concern. On Friday, the Dow Jones Industrial Average fell by over 700 points, while the S&amp;P 500 also took a hit. The losses came after inflation data showed a 2.8% rise in core prices compared to last year&mdash;higher than expected.
<h2>How are other nations responding?</h2>
Several countries have already hit back. Canada and China imposed retaliatory tariffs following earlier rounds, and the European Union is expected to respond soon.
Canadian Prime Minister Mike Carney criticised the US&rsquo;s 25% auto tariffs, saying America is &ldquo;no longer a reliable partner.&rdquo; He added that Canada will seek deeper trade ties elsewhere and announce fresh countermeasures next week. &ldquo;Nothing is off the table as we defend our workers and our country,&rdquo; he said.
Also read: <a href="https://www.wionews.com/world/record-breaking-trump-signed-107-executive-orders-in-two-months-nearly-triples-bidens-count-8903965">RECORD BREAKING! Trump signed 107 executive orders in two months, nearly triples Biden's count</a>
Vehicles protected under the USMCA deal&mdash;negotiated during Trump&rsquo;s first term&mdash;will not face full tariffs. However, parts sourced from outside North America will still be taxed.
Germany and France have also called for an EU-wide response.
<h2>What if countries retaliate?</h2>
Trump was clear that any retaliatory tariffs would be met with further US action. &ldquo;That has to stop,&rdquo; he said, referring to decades of what he sees as exploitation of US trade policy. He also claimed that some world leaders privately admitted to having taken advantage of the US&mdash;though he didn&rsquo;t name names.
(With inputs from agencies)

World: Since returning to the White House, Trump has slapped tariffs on goods from China, Mexico, and Canada, as well as on steel, aluminium, foreign vehicles, and auto parts.

President Donald Trump is preparing to roll out his most aggressive trade move yet as his long-promised “Liberation Day in America” arrives on Wednesday. After already imposing tariffs that have shaken global markets, Trump is now set to launch a sweeping round of reciprocal tariffs aimed at shrinking the United States’ record trade deficit. Since returning to the White House, Trump has slapped tariffs on goods from China, Mexico, and Canada, as well as on steel, aluminium, foreign vehicles, and auto parts. He has also threatened further duties on traditional allies like the European Union, going as far as to mention tariffs on European wine. Also read: 'He’ll be gone in couple weeks': JD Vance urges Trump to sack Waltz after Signal leak; Trump says 'not yet' But April 2 is seen as the real turning point in Trump’s “America First” trade agenda. That’s the day he will formally announce the reciprocal tariffs, targeting countries responsible for the bulk of the US’s $1.2 trillion trade deficit. The measures will officially take effect on Thursday. What are reciprocal tariffs? Trump’s plan involves levying tariffs on imports from countries that currently impose tariffs on US goods. Back in February, he signed a memorandum instructing US trade officials to compile a country-by-country list of matching tariff rates. Why is Trump doing this? According to Trump, the aim is to counter what he sees as unfair trade practices by foreign governments. By matching tariffs, the administration hopes to make importing into the US more costly, thereby encouraging companies to manufacture within the country. Also read: Trump praises Modi as 'very smart,' says tariff talks between us would 'work out very well' Trump has repeatedly argued that the US has allowed other nations to apply tariffs on its exports without any pushback. “We can’t do without it,” he said, insisting the tariffs are necessary for both national and international economic security. Who are the 'Dirty 15'? Treasury Secretary Scott Bessent recently explained that the tariffs would primarily target countries responsible for the largest share of the US trade deficit and those imposing the steepest tariffs on US exports. Also read: 'Bad, bad things will happen': Trump warns Iran on nuclear deal “There’s what we would call the ‘Dirty 15,’” Bessent said, noting these countries account for just 15% of US trading partners but represent a large portion of overall trade. While the official list has not been published, countries with significant trade imbalances include China, the EU, Mexico, Vietnam, Japan, and Canada, among others. Is Trump narrowing the scope? Bessent hinted that the administration might limit the scope of the tariffs, contrary to earlier sweeping proposals. For instance, while Trump has imposed new tariffs on the auto industry, other sectors—such as semiconductors and pharmaceuticals—have not yet been affected. Asked about potential exemptions for life-saving medicines, Trump said, “We’ll be announcing it soon. But we have to bring pharmaceuticals, drugs and pharmaceuticals, back into our country.” Despite weeks of building anticipation, Trump softened his rhetoric this week. “We’re going to make it very lenient,” he told reporters after signing the latest round of auto tariffs. “It’ll be, in many cases, less than the tariff that they’ve been charging us for decades.” White House Press Secretary Karoline Leavitt echoed this, saying Trump believes the tariff levels “would be more conservative than many people are expecting.” Will this hurt the US economy? Economists have warned that extensive tariffs could harm an already fragile economy. Tariffs tend to raise prices for consumers and businesses, and retaliatory measures from other countries could dampen exports and shake investor confidence. Stock markets have already shown signs of concern. On Friday, the Dow Jones Industrial Average fell by over 700 points, while the S&P 500 also took a hit. The losses came after inflation data showed a 2.8% rise in core prices compared to last year—higher than expected. How are other nations responding? Several countries have already hit back. Canada and China imposed retaliatory tariffs following earlier rounds, and the European Union is expected to respond soon. Canadian Prime Minister Mike Carney criticised the US’s 25% auto tariffs, saying America is “no longer a reliable partner.” He added that Canada will seek deeper trade ties elsewhere and announce fresh countermeasures next week. “Nothing is off the table as we defend our workers and our country,” he said. Also read: RECORD BREAKING! Trump signed 107 executive orders in two months, nearly triples Biden's count Vehicles protected under the USMCA deal—negotiated during Trump’s first term—will not face full tariffs. However, parts sourced from outside North America will still be taxed. Germany and France have also called for an EU-wide response. What if countries retaliate? Trump was clear that any retaliatory tariffs would be met with further US action. “That has to stop,” he said, referring to decades of what he sees as exploitation of US trade policy. He also claimed that some world leaders privately admitted to having taken advantage of the US—though he didn’t name names. (With inputs from agencies)

Trump’s ‘Liberation Day’ is near: What it means and how it could hit your country?

Prominent yoga guru and co-founder of Patanjali, Baba Ramdev, strongly criticised US President Donald Trump on Sunday (Mar 9), stating that the Republican leader was promoting &ldquo;tariff terrorism&rdquo;.&nbsp;
He also accused Trump of bullying poor and developing nations through his push for reciprocal tariffs, which he said was unleashing a new &ldquo;era of intellectual colonisation&rdquo;.
"There is a new era of intellectual colonisation. Amid this, ever since Donald Trump rose to power, he created a new world record of 'tariff terrorism'. He has ripped off democracy by threatening poor and developing nations... This is 'economic terrorism'," Ramdev said.
"He is taking the world to a different era... In such a case, India needs to develop... All Indians should unite to build a strong nation and answer all these destructive powers," he added.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m81q9bd3-h394610s-kcm71khm">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Nagpur, Maharashtra | On US President Donald Trump imposing reciprocal tariffs, Yog guru Baba Ramdev says, "There is a new era of intellectual colonization. Amid this, ever since Donald Trump rose to power, he created a new world record of 'tariff terrorism'. He has&hellip; <a href="https://t.co/aUgrVhm5pa">pic.twitter.com/aUgrVhm5pa</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1898667777533341928?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote>
Ramdev also emphasised that India must accelerate its development in these turbulent times, as certain powerful nations want to push the world towards chaos and destruction.
<a href="https://www.wionews.com/world/trump-suspends-most-mexico-tariffs-until-april-2-8829006">Also read: 'Did this out of respect for Sheinbaum'; Trump suspends most Mexico tariffs until April 2</a>
<h2>&lsquo;Trump has made tariffs household name&rsquo;: Congress leader Jairam Ramesh</h2>
Congress general secretary Jairam Ramesh also said that Trump has made tariffs a household name across the world.
&ldquo;Till the mid-1910s tariffs were the main source of revenue for the US government. In 1913, the US Constitution was amended to introduce a federal income tax for the first time,&rdquo; Ramesh said in a post on X.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m81qaj0o-gxuipkm6-9v0ks2nn">
President Trump has made tariffs a household name across the world. Till the mid-1910s tariffs were the main source of revenue for the US Govt. In 1913, the US Constitution was amended to introduce a federal income tax for the first time. One of the most influential economists&hellip;
&mdash; Jairam Ramesh (@Jairam_Ramesh) <a href="https://twitter.com/Jairam_Ramesh/status/1898603381499068458?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote>
&ldquo;One of the most influential economists who championed and campaigned for the federal income tax was Edwin Seligman, a Professor of Public Finance at Columbia University,&rdquo; he added.
<h2>Trump claims India agreed to reduce tariffs on US imports&nbsp;</h2>
Donald Trump recently claimed that India has agreed to significantly reduce tariffs on US goods after he slammed India for having high duties.
Following this, Ramesh questioned PM Modi as to what the Indian government had agreed to amidst Commerce Minister Piyush Goyal's visit to Washington.
"The Commerce Minister Piyush Goyal is in Washington DC to talk trade with the Americans. Meanwhile, President Trump says this. What has the Modi Government agreed to? Are the interests of Indian farmers and of Indian manufacturing being compromised? The PM must take Parliament into confidence when it resumes on March 10th," Ramesh wrote in a post on X.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m81qbpoy-27tewgza-eylr1djv">
The Commerce Minister Piyush Goyal is in Washington DC to talk trade with the Americans. Meanwhile President Trump says this. What has the Modi Government agreed to? Are the interests of Indian farmers and of Indian manufacturing being compromised? The PM must take Parliament&hellip; <a href="https://t.co/K625e8vGrM">pic.twitter.com/K625e8vGrM</a>
&mdash; Jairam Ramesh (@Jairam_Ramesh) <a href="https://twitter.com/Jairam_Ramesh/status/1898243555229155841?ref_src=twsrc%5Etfw">March 8, 2025</a></blockquote>
"'You tariff, I tariff', that is not the way international trade functions. These rules have been negotiated. The WTO is World Trade Organisation not World Trump Organisation," he said.
(With inputs from agencies)

India News: Ramdev emphasised that India must accelerate its development in these turbulent times, as certain powerful nations want to push the world towards chaos and destruction.

Prominent yoga guru and co-founder of Patanjali, Baba Ramdev, strongly criticised US President Donald Trump on Sunday (Mar 9), stating that the Republican leader was promoting “tariff terrorism”. He also accused Trump of bullying poor and developing nations through his push for reciprocal tariffs, which he said was unleashing a new “era of intellectual colonisation”. "There is a new era of intellectual colonisation. Amid this, ever since Donald Trump rose to power, he created a new world record of 'tariff terrorism'. He has ripped off democracy by threatening poor and developing nations... This is 'economic terrorism'," Ramdev said. "He is taking the world to a different era... In such a case, India needs to develop... All Indians should unite to build a strong nation and answer all these destructive powers," he added. #WATCH | Nagpur, Maharashtra | On US President Donald Trump imposing reciprocal tariffs, Yog guru Baba Ramdev says, "There is a new era of intellectual colonization. Amid this, ever since Donald Trump rose to power, he created a new world record of 'tariff terrorism'. He has… pic.twitter.com/aUgrVhm5pa — ANI (@ANI) March 9, 2025 Ramdev also emphasised that India must accelerate its development in these turbulent times, as certain powerful nations want to push the world towards chaos and destruction. Also read: 'Did this out of respect for Sheinbaum'; Trump suspends most Mexico tariffs until April 2 ‘Trump has made tariffs household name’: Congress leader Jairam Ramesh Congress general secretary Jairam Ramesh also said that Trump has made tariffs a household name across the world. “Till the mid-1910s tariffs were the main source of revenue for the US government. In 1913, the US Constitution was amended to introduce a federal income tax for the first time,” Ramesh said in a post on X. President Trump has made tariffs a household name across the world. Till the mid-1910s tariffs were the main source of revenue for the US Govt. In 1913, the US Constitution was amended to introduce a federal income tax for the first time. One of the most influential economists… — Jairam Ramesh (@Jairam_Ramesh) March 9, 2025 “One of the most influential economists who championed and campaigned for the federal income tax was Edwin Seligman, a Professor of Public Finance at Columbia University,” he added. Trump claims India agreed to reduce tariffs on US imports Donald Trump recently claimed that India has agreed to significantly reduce tariffs on US goods after he slammed India for having high duties. Following this, Ramesh questioned PM Modi as to what the Indian government had agreed to amidst Commerce Minister Piyush Goyal's visit to Washington. "The Commerce Minister Piyush Goyal is in Washington DC to talk trade with the Americans. Meanwhile, President Trump says this. What has the Modi Government agreed to? Are the interests of Indian farmers and of Indian manufacturing being compromised? The PM must take Parliament into confidence when it resumes on March 10th," Ramesh wrote in a post on X. The Commerce Minister Piyush Goyal is in Washington DC to talk trade with the Americans. Meanwhile President Trump says this. What has the Modi Government agreed to? Are the interests of Indian farmers and of Indian manufacturing being compromised? The PM must take Parliament… pic.twitter.com/K625e8vGrM — Jairam Ramesh (@Jairam_Ramesh) March 8, 2025 "'You tariff, I tariff', that is not the way international trade functions. These rules have been negotiated. The WTO is World Trade Organisation not World Trump Organisation," he said. (With inputs from agencies)

‘Tariff terrorism’: Baba Ramdev condemns reciprocal tax proposed by Trump, accuses him of ripping off democracy

President Donald Trump has warned that his administration could impose reciprocal tariffs on Canadian dairy and lumber products as early as Friday if Canada does not drop its own tariffs.

Trump has vowed broader reciprocal tariffs as soon as April 2

The U.S. President's 'The Big One' on tariffs is underway. He signed an executive order instructing his administration to look into reciprocal tariffs. Trump's explanation for the reciprocal tariff plan is simple: "We charge you what you charge us." We look at the impact of these U.S. import taxes and break it down in this next report... Take a look...

Reciprocal tariffs already a winning bet?

U.S. President Donald Trump announces a new “reciprocal tariffs” plan aimed at balancing trade with both allies and rivals. Trump signed a memorandum emphasizing that some allies treat the U.S. worse than enemies in trade practices. The move is set to spark global trade debates.

Trump’s reciprocal tariff plan targets allies and rivals alike

US President Donald Trump announced reciprocal tariffs that will affect all countries that impose tariffs on American goods. The move on Thursday (Feb 13) came ahead of his meeting with visiting Indian Prime Minister Narendra Modi. Trump said India has more tariffs than nearly any other country, Reuters reported.&nbsp;"India charges tremendously high tariffs," he told reporters.
In an escalation on trade issues, Trump further said that whatever countries charge the US, America will charge the same, "no more, no less".&nbsp;
"They charge us with tax and tariffs, it's very simple we will charge them with exact tax and tariffs," US President Donald Trump said.
<blockquote class="twitter-tweet" data-media-max-width="560">
Donald Trump announces reciprocal tariffs to target allies and adversaries, says EU 'absolutely brutal' on trade Why would we pay $200 billion per year in subsidies when they are not a state? Canada could be a serious contender to be our 51st state, says Trump <a href="https://t.co/XJtG3amaW0">pic.twitter.com/XJtG3amaW0</a>
&mdash; WION (@WIONews) <a href="https://twitter.com/WIONews/status/1890127652620472512?ref_src=twsrc%5Etfw">February 13, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Also read: <a href="https://www.wionews.com/videos/pm-modis-us-visit-pm-modi-meets-us-national-security-advisor-michael-waltz-8719177">PM Modi's US visit: PM Modi meets US national security advisor Michael Waltz</a>
<h2>'Worse than our enemies'</h2>
While speaking in the Oval Office, he told reporters that US allies were often "worse than our enemies" on trade issues. The levies would be tailored to each US trading partner and consider factors like Value Added Tax (VAT).
<iframe width="600" height="" style="max-width: 100%; border: 0;" src="https://truthsocial.com/@realDonaldTrump/113998250121701192/embed" class="truthsocial-embed" allowfullscreen="allowfullscreen"></iframe>
<script src="https://truthsocial.com/embed.js" async="async"></script>

Also read: <a href="https://www.wionews.com/world/pm-modi-us-visit-live-updates-president-trump-to-host-dinner-for-indian-pm-at-white-house-full-schedule-8718153">PM Modi US visit Live: Trump imposes 'reciprocal tariffs', says 'India has the most'</a>
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<h2 class="liveblogtextlist">Tariffs won't take immediate effect</h2>
However, a White House official said that the tariffs, which Trump put into motion via an executive action Thursday, won&rsquo;t take immediate effect, which is an intentional move to give nations time to potentially negotiate new trade terms with the US.
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Earlier in the day, Trump posted on Truth Social, "Three great weeks, perhaps the best-ever, but today is the big one: Reciprocal tariffs. Make America Great Again!!!!."&nbsp;
Also read: <a href="https://www.wionews.com/world/trump-modi-to-discuss-defence-trade-and-critical-technologies-key-announcements-expected-8719059">Trump, Modi to discuss defence, trade, and critical technologies; key announcements expected</a>
The move is aimed at matching the US' tariff rates on imports to the level that other countries impose on United States goods.
For instance, if India levies a 25 per cent tariff on US automobile imports, Washington would respond by imposing a matching 25 per cent tariff on auto imports from New Delhi.
Since Trump took office for his second term as the US president, he has imposed tariffs on several countries, like Canada, Mexico, and China.
Also read: <a href="https://www.wionews.com/world/trump-says-reciprocal-tariffs-will-be-announced-thursday-8717978">&lsquo;Today is a big one&rsquo;: Trump&rsquo;s &lsquo;reciprocal tariffs&rsquo; post ahead of his meeting with PM Modi</a>
Moreover, Trump had recently also announced tariffs on all steel and aluminium imports beginning March 12.
(With inputs from agencies)

World: "They charge us with tax and tariffs, it's very simple we will charge them with exact tax and tariffs," US President Donald Trump said.

US President Donald Trump announced reciprocal tariffs that will affect all countries that impose tariffs on American goods. The move on Thursday (Feb 13) came ahead of his meeting with visiting Indian Prime Minister Narendra Modi. Trump said India has more tariffs than nearly any other country, Reuters reported. "India charges tremendously high tariffs," he told reporters. In an escalation on trade issues, Trump further said that whatever countries charge the US, America will charge the same, "no more, no less". "They charge us with tax and tariffs, it's very simple we will charge them with exact tax and tariffs," US President Donald Trump said. Donald Trump announces reciprocal tariffs to target allies and adversaries, says EU 'absolutely brutal' on trade Why would we pay $200 billion per year in subsidies when they are not a state? Canada could be a serious contender to be our 51st state, says Trump pic.twitter.com/XJtG3amaW0 — WION (@WIONews) February 13, 2025 Also read: PM Modi's US visit: PM Modi meets US national security advisor Michael Waltz 'Worse than our enemies' While speaking in the Oval Office, he told reporters that US allies were often "worse than our enemies" on trade issues. The levies would be tailored to each US trading partner and consider factors like Value Added Tax (VAT). Also read: PM Modi US visit Live: Trump imposes 'reciprocal tariffs', says 'India has the most' Tariffs won't take immediate effect However, a White House official said that the tariffs, which Trump put into motion via an executive action Thursday, won’t take immediate effect, which is an intentional move to give nations time to potentially negotiate new trade terms with the US. Earlier in the day, Trump posted on Truth Social, "Three great weeks, perhaps the best-ever, but today is the big one: Reciprocal tariffs. Make America Great Again!!!!." Also read: Trump, Modi to discuss defence, trade, and critical technologies; key announcements expected The move is aimed at matching the US' tariff rates on imports to the level that other countries impose on United States goods. For instance, if India levies a 25 per cent tariff on US automobile imports, Washington would respond by imposing a matching 25 per cent tariff on auto imports from New Delhi. Since Trump took office for his second term as the US president, he has imposed tariffs on several countries, like Canada, Mexico, and China. Also read: ‘Today is a big one’: Trump’s ‘reciprocal tariffs’ post ahead of his meeting with PM Modi Moreover, Trump had recently also announced tariffs on all steel and aluminium imports beginning March 12. (With inputs from agencies)

Trump announces reciprocal tariffs ahead of meeting with Indian PM Modi

US President Donald Trump announced that the United States would unveil reciprocal tariffs later on Thursday. 'Today Is The Big One: Reciprocal Tariffs', Trump posted on Truth Social.

Donald Trump to sign reciprocal tariffs order soon

Donald trump confirms order on reciprocal tariffs

'Today is the big one: reciprocal tariffs', Trump on Truth Social

reciprocal-tariffs

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