4 weeks ago
Last Updated:February 13, 2025, 21:38 IST
Donald Trump Announces US Tariffs: Donald Trump said, “Very simply, it’s if they charge us, we charge them”- explaining why he intends to enact reciprocal tariffs.
US President Donald Trump
US President Donald Trump is set to announce ‘’reciprocal tariffs’, he said in a Truth Social post – hours before meeting PM Modi in Washington. The announcement is likely to include tariffs on several countries as Donald Trump wrote on Truth Social, “THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!" (sic)
“MAKE AMERICA GREAT AGAIN!!!," he added.
What are reciprocal tariffs?
Reciprocal tariffs were one of Donald Trump’s core campaign pledges- aimed at targeting foreign nations that place taxes on American goods and solve what he said are unfair trade practices.
He earlier said, “Very simply, it’s if they charge us, we charge them"- explaining why he intends to enact reciprocal tariffs.
What countries are expected to be hit by Donald Trump’s reciprocal tariffs?
White House press secretary Karoline Leavitt echoed Donald Trump’s message, saying, “This is something he believes strongly in, and it’s very simple logic as to why the president wants to impose reciprocal tariffs."
Reciprocal tariffs will be over and above the 10% across-the-board tariff that went into effect last week. Additionally, other tariffs have also been put in place by the US on Chinese goods and stricter 25% tariffs on steel and aluminum have been announced.
Will Donald Trump push for tariffs against India?
Tariffs are a key part of Donald Trump’s plan to raise revenue to pay for the extension of his 2017 tax cut which are over other promised tax cuts in the US. As Donald Trump is meeting PM Modi- who is on an official visit to the US- the two leaders could reach an agreement that avoids or delays new tariffs on Indian exports to the US. In 2024, India exported $87 billion worth of goods to the US, while the US exported $42 billion worth of goods.
Location :Washington D.C., United States of America (USA)
First Published:February 13, 2025, 20:28 IST
News world 'Today Is The Big One': Donald Trump To Announce Reciprocal Tariffs Shortly
