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Washington DC [US], April 3 (ANI): Following his announcement of sweeping tariffs worldwide, US President Donald Trump said that a 10 per cent tariff will be imposed on all countries, effective April 5.
Additionally, starting April 9, countries with the largest trade deficits with the US will face higher, individualised tariffs.
The White House in a fact sheet titled ‘President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security’ said, “President Trump is invoking his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the national emergency posed by the large and persistent trade deficit that is driven by the absence of reciprocity in our trade relationships and other harmful policies like currency manipulation and exorbitant value-added taxes (VAT) perpetuated by other countries.”
It added, “Using his IEEPA authority, President Trump will impose a 10% tariff on all countries. This will take effect April 5, 2025, at 12:01 am EDT.”
The fact sheet further stated, “President Trump will impose an individualized reciprocal higher tariff on the countries with which the United States has the largest trade deficits. All other countries will continue to be subject to the original 10% tariff baseline. This will take effect April 9, 2025, at 12:01 am EDT.”
Tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.
The fact sheet further stated, “Today’s IEEPA Order also contains modification authority, allowing President Trump to increase the tariff if trading partners retaliate or decrease the tariffs if trading partners take significant steps to remedy non-reciprocal trade arrangements and align with the United States on economic and national security matters.”
Notably, Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world, with India facing a 26 per cent tariff.
At the Make America Wealthy Again event, Trump said, “The United States charges other countries only a 2.4% tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like 60%, India charges 70%, Vietnam charges 75%, and others are even higher than that.”
The US President further said that a 25 per cent tariff would be imposed on all foreign-made automobiles. “Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don’t blame these other countries at all for this calamity. I blame former presidents and past leaders who weren’t doing their job… Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” Trump said.
The import tariffs on other major countries are China (34 per cent), European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).
America’s taxpayers have been ripped off for 50 years”: Donald Trump
US President Donald Trump on Wednesday (local time) called April 2, 2025, a pivotal day in American history. Referring to the day as “Liberation Day,” Trump declared it as the turning point for American industry.
Trump’s remarks came while he participated in the Make America Wealthy Again Event.
“My fellow Americans, this is Liberation Day, waiting for a long time. April 2nd, 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,” the US President said.
He emphasised that after decades of exploitation, the era of American taxpayers being “ripped off” was over.
Trump said, “Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore.”
Trump further said, “In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal: That means they do it to us and we do it to them. This is one of the most important days, in my opinion, in American history. It is our Declaration of Economic Independence.
For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. With today’s action, we are finally going to be able to make America great again, greater than ever before.”
Earlier on Tuesday, the White House had said that the tariffs would go into effect immediately.
Recently, Trump had said that he had heard that India was dropping its tariffs on American goods substantially.
“I think I heard that India just a little while ago is going to be dropping its tariffs very substantially, and I said why didn’t somebody do this a long time ago,” he said.
“…You are not treating us right”: Trump announces 26% tariffs on India
US President Donald Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world, with India facing a 26 percent tariff.
Calling Prime Minister Narendra Modi a “great friend,” Trump said that India charges the US 52 percent, and “we charge them almost nothing.”
Trump’s announcement came while he addressed the Make America Wealthy Again Event.
At the event, Trump said, “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 percent and we charge them almost nothing…”
Trump further said, “The United States charges other countries only a 2.4 tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like 60%, India charges 70%, Vietnam charges 75%, and others are even higher than that.”
The US President further said that a 25 percent tariff would be imposed on all foreign-made automobiles.
“Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don’t blame these other countries at all for this calamity. I blame former presidents and past leaders who weren’t doing their job… Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,” Trump said.
The import tariffs on other major countries are China (34 percent), European Union (20 percent), Vietnam (46 percent), Taiwan (32 percent), Japan (24 percent), India (26 percent), United Kingdom (10 percent), Bangladesh (37 percent), Pakistan (29 percent), Sri Lanka (44 percent), and Israel (17 percent).
At the event, the US President also emphasized that after decades of exploitation, the era of American taxpayers being “ripped off” was over.
Trump said, “Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore.”
Trump further said, “In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal: That means they do it to us and we do it to them. This is one of the most important days, in my opinion, in American history. It is our Declaration of Economic Independence.
“For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. With today’s action, we are finally going to be able to make America great again, greater than ever before.”
Earlier on Tuesday, the White House had said that the tariffs would go into effect immediately. (ANI)
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