After an anxious wait of multiple weeks, the feared avalanche of tariffs by the US administration under President Donald Trump has finally been unveiled.
The Tariff War Begins
While speaking from the White House's Rose Garden, brandishing a set of giant cue cards, Trump unleashed his list, consisting of countries and the tariff imposed on them.
For starters, Trump has announced the imposition of a universal 10 per cent tariff on all imports into the United States. These charges are expected to kick in from April 5.
Along with that, an additional 16 per cent tariff will be applied from April 10.
A Mixed Bag?
In this, the highlight of the day for India came in the first list shared. In this list, US claimed that India levied or 'Tariff Charged To the US by India', amounts to 52 per cent. In return, India was hit back with a blanket tariff of 26 per cent, half of what India purportedly charges.
This is being reported as a bit of relief for the Indian side, as the intensity of the tariffs was not as acute as anticipated. However, it is to be noted, that these tariffs could be entirely averted.
(File) US President Donald Trump | AFP
According to an India Today report, some of the major sectors that have apparently been saved from the wrath of the tariff war include the pharmaceutical sector, along with the crucial semiconductor business. In addition, other segments like copper, lumber and minerals have also eluded these tariffs.
Some observers are approaching these tariffs with some optimism, as they have deemed it a 'mixed bag.'
An Indian government official, while speaking to PTI said that the centre's commerce ministry is closely studying the situation and looking at possible responses.
Trump's List
Donald Trump shares a list of 100 countries on whom the administration has imposed tariffs, on his account on Truth Social.
This is as follows:
This list interestingly excludes Canada, Mexico, North Korea and even US arch-rival Russia. This development has drawn some attention. This is the case, as the administration had already imposed a 25 per cent blanket tariff on Mexico and Canada, which were initially delayed twice, with April 2 being the last date for any 'negotiations'.
Meanwhile, other countries and trading partners of the United States have vowed to respond to these measures proportionately.
