NEW DELHI : As a new tariff regime all set to be enforced by
Donald Trump administration with his pronouncements late
night today, it has prompted countries like India, China and the
other South –East countries looking for measures to contain its
effect directly or in an indirect way .
As the US President Trump all set to announce new reciprocal
tariffs on India, Japan and other country today these countries
will be facing its direct hit. As per reports , new tariff rate on all
American goods which is all set to be pronounced by 4 pm local
time on April 2, as Trump chose calling his action appropriate
and even compared it with ‘Liberation Day’ for all Americans .
Trump administration believes that reciprocal tariffs will
help US businesses expand their growth at the same time
would help country adding fabulous income
On US’ new move on tariff, Trump administration believes that
reciprocal tariffs will help US businesses expand their growth at
the same time would help country adding fabulous income also .
The taxes on imported goods announced on April 2 all set for
enforcement immediately would certainly prompt affected
countries change gears and looking for redemption as the taxes
on automobiles will be implemented from April 3, as announced
by the White House.
White House criticises India for 100 pc tariffs: Just a day
before the Liberation Day deadline, White House Press
Secretary Karoline Leavitt criticised the Indian government for
imposing 100 percent tariffs on American agricultural goods.
“” If you look at the unfair trade practices – we have 50%
(tariff) from the European Union on American dairy and a 700%
tariff from Japan on American rice. You have a 100% tariff from
India on American agricultural products and nearly 300% from
Canada on American butter and cheese,” she said.
What time will Trump announce the tariffs?
President Donald Trump is set to announce the reciprocal tariffs
at around 4 pm Eastern Time (1:30 am IST) on April 2. The
tariffs will be announced at an event called ‘Make America
Wealthy Again’ held at the White House Rose Garden. The
tariffs will be put into effect immediately and the collections
will commence from Thursday. The US has trade agreements
with over 20 countries, including India, which means that
reciprocal tariffs can impact these trading partners.
Economic repercussions of Trump’s presidency
Trump’s bet is that — given the strength of the US economy and
its enviable record of sustained economic growth even against
terrible odds (often referred to as US exceptionalism) — the
threat of tariffs will quickly force foreign companies and
countries across the world to set up shop inside the US , thus
reducing trade deficit while boosting manufacturing within the
US, creating jobs and unprecedented prosperity.
Most of US allies witnessing stagnant economic growth since
the Global Financial Crisis of 2008
Most of US allies have been witnessing stagnant economic
growth since the Global Financial Crisis of 2008. This has led to
falling per capita incomes and productivity, and has fuelled
social unrest. The remarkably counter-productive decision by
the British to leave the European Union is one example of
economic stress and social unrest leading to a reactionary and
counter-productive decision .
For a while now, the US dollar has been strengthening against
all currencies of the world. Partly this was because of the
proverbial US exceptionalism; it was, for instance, the only
major economy in the world that managed to register a genuine
V-shaped recovery after the Covid pandemic.
