WASHINGTON: The White House has confirmed that President Trump will impose new tariffs today (Wednesday), but hasn’t specified details of the size and scope of trade barriers that are set to impact India among other nations.
White House spokeswoman Karoline Leavitt on Tuesday said reciprocal tariffs on countries that imposed duties on US goods would take effect immediately after Trump announced them on Wednesday, while a 25 per cent tariff on auto imports would take effect on April 3.
Ahead of President Trump’s April 2 deadline for reciprocal tariffs, the US reiterated that India was imposing 100 percent levy on American agricultural goods.
To deal with a possible fallout of the US move, the Commerce Ministry said it had initiated comprehensive tariff reforms to correct the inverted duty structures.
At a media briefing in Washington DC, Leavitt said: “It’s time for reciprocity.” Trump “is going to make historic changes”, said Leavitt, naming India, Canada, Japan and the European Union for imposing high tariffs on US goods. “Unfortunately, these countries have been ripping off our country for far too long,” she added.
Leavitt confirmed that there won’t be any exemptions on reciprocal tariffs. “The goal of Wednesday (April 2) is a country-based tariff, but certainly sectoral tariffs. The President has said he’s committed to implementing them,” she said.
In New Delhi, Minister for State in Commerce Ministry Jitin Prasada informed Parliament that the government was gearing up to tackle the threat by starting with reforms. “Such reforms are designed to reduce production costs, encourage domestic manufacturing, and enhance global competitiveness. However, despite reductions, some domestic industries advocate for higher tariffs to protect against foreign competition,” he said.
