US President Donald Trump announced new import tariffs on Wednesday, setting a 26% tariff on Indian imports while calling Prime Minister Narendra Modi a “great friend.” Speaking at the Make America Wealthy Again event, Trump justified the move by claiming India imposes a 52% tariff on US imports, while the US charges India “almost nothing.”
Trump on India’s Trade Policies
At the event, Trump stated:
“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 also pointed out disparities in motorcycle tariffs, saying:
“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.”
New Tariff Rates on Global Imports
Alongside India, Trump announced import tariffs on several major economies:
- China: 34%
- European Union: 20%
- Vietnam: 46%
- Taiwan: 32%
- Japan: 24%
- India: 26%
- United Kingdom: 10%
- Bangladesh: 37%
- Pakistan: 29%
- Sri Lanka: 44%
- Israel: 17%
25% Tariff on Foreign-Made Automobiles
Trump also revealed a 25% tariff on all foreign-made automobiles, arguing that past policies have “devastated our industrial base and put our national security at risk.” He blamed previous US administrations for allowing other nations to exploit American trade policies.
“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 declared.
A “Declaration of Economic Independence”
Trump framed the new tariffs as a historic shift in US trade policy:
“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 American history. It is our Declaration of Economic Independence.”
Immediate Implementation
The White House confirmed that the new tariffs would take effect immediately. With this move, Trump aims to reshape US trade relationships and prioritize American economic interests. The announcement is likely to have major implications for India-US trade relations and global markets.