Tariff News: Trump Announces Reciprocal Tariffs Targeting India’s System

U.S. President Donald Trump has announced reciprocal tariffs starting April 2, criticizing India and other nations for their unfair trade practices. He highlighted India’s 100% auto tariffs and reiterated that measures would be taken against countries imposing tariffs on American goods. Economic updates include China’s growth target of about 5% and fluctuations in oil prices affecting markets.

In recent developments, U.S. President Donald Trump criticized the “unfair systems” employed by countries such as India, the European Union, and China. During his speech, he reaffirmed his view that the U.S. has faced tariff barriers for decades and stated that it is now time for reciprocal measures. He emphasized that starting April 2, the U.S. would implement tariffs equivalent to those imposed by other nations on American products.

Specifically targeting India, Trump noted, “India charges us auto tariffs 100%… the system is not fair to US, it never was… on April 2, reciprocal tariffs kick in and whatever they tariff us, other countries, we will tariff them… whatever they tax us, we will tax them.”

In conjunction with these tariffs and economic updates, China set its economic growth target at about 5% for 2025 as it navigates U.S. trade tensions. Additionally, oil prices fell due to OPEC+ output increases amid the tariff situation, and India’s stock market saw an uptick.

President Trump’s announcement of reciprocal tariffs reflects a significant shift in trade dynamics, targeting nations he considers employ unfair trade practices. The commencement of these tariffs on April 2, particularly aimed at India, signals escalating trade tensions as countries adjust their strategies in response to these developments. Furthermore, the broader economic context, including China’s growth targets and ongoing market fluctuations, underscores the complexities of the global economic landscape.

Original Source: www.moneycontrol.com