Daijiworld Media Network – Washington
Washington, Apr 3: In a bold move to reshape global trade, US President Donald Trump has announced a sweeping tariff policy, imposing a 10 per cent baseline tariff on all imports while levying higher individual rates on key trade partners. India faces a 26 per cent tariff, China 34 per cent, and the European Union 20 per cent.
Trump framed the decision as a step toward fairer trade, arguing that many nations impose significantly higher tariffs and non-monetary trade barriers on American goods. "We are kind people, very kind," he said, justifying the lower reciprocal rates.
Several nations, including the UK, Japan, South Korea, Indonesia, Taiwan, Vietnam, Cambodia, Switzerland, Bangladesh, Pakistan, and Sri Lanka, have also been subjected to higher tariffs. Notably, many of these are US treaty allies, but Trump maintained that "friends have been more unfair to the US than foes" in trade matters.
Referring to India, he remarked, "Very, very tough. The Prime Minister just left—he's a great friend of mine—but I told him, 'You're not treating us right.' They charge us 52 per cent, while we charge them almost nothing." The newly announced 26 per cent tariff, he claimed, was a fair counterbalance.
Trump referenced Prime Minister Narendra Modi's February visit to the White House, one of the first by a foreign leader since his return to office. While he praised their relationship, he made it clear that trade concessions would not be part of their friendship.
China, with an estimated 67 per cent tariff on US goods, will now face a 34 per cent tariff. "We could have gone higher, but we're being kind," Trump stated.
The European Union, which he described as "very tough traders," will see a 20 per cent tariff. "You think of the EU as friendly, but they rip us off," he said.
Vietnam, which Trump acknowledged as having "great negotiators," faces a 46 per cent tariff due to what he called excessive duties on US exports. Taiwan, long a semiconductor hub, was also singled out for its dominance in the chip industry, with Trump claiming it had "taken all of our computer chips."
Trump framed the announcement as a historic moment, declaring, "April 2, 2025, will forever be remembered as the day American industry was reborn." He described past trade policies as leaving the US "looted, pillaged, raped, and plundered by nations near and far."
He has dubbed the policy shift "Liberation Day," signaling his belief that these tariffs will reduce the trade deficit, revive American manufacturing, and push other nations to lower their own barriers against US goods.
This latest move marks the fourth round of tariffs under Trump's administration. Previous measures included a 25 per cent tariff on all steel and aluminum imports, 25 per cent tariff on imports from Canada and Mexico, 10 per cent tariff on China, and 25 per cent duty on imported vehicles and auto parts.
Trump hinted at more tariffs in specific sectors, including pharmaceuticals, as part of his broader strategy to reassert American dominance in global trade.