President Trump has declared that starting April 2, the U.S. will impose reciprocal tariffs on India and China in response to their high tariffs on American products. He criticized the longstanding trade imbalances and promised to implement measures that ensure fairness for U.S. businesses. This initiative emphasizes the duty to protect American interests in global trade.

In a recent address to Congress, U.S. President Donald Trump announced that reciprocal tariffs targeting India and China will be implemented starting April 2. He criticized the high tariffs that these and other nations impose on U.S. products, deeming them “very unfair”. Trump expressed his intent to retaliate against what he termed a longstanding imbalance in tariffs between the U.S. and other countries.

During his speech, President Trump highlighted that countries like India impose significantly high tariffs, such as those exceeding 100% on automobiles. He reiterated his administration’s commitment to introducing reciprocal tariffs as a response to the barriers American products face overseas. Trump had previously signaled this shift during discussions with Indian Prime Minister Narendra Modi.

The President elaborated that tariffs on U.S. goods are notably higher in several countries, doubling in China and reaching four times as much in South Korea. He argued that despite providing military support and assistance to countries like South Korea, American businesses continue to face unfair trade practices. “This system is not fair to the United States. It never was,” he remarked.

From April 2, according to Trump, the U.S. will revoke leniency and impose tariffs that correspond to those established by other nations against American goods. He emphasized a reciprocal approach, stating that if foreign nations impose non-monetary tariffs, the U.S. would respond with similar restrictions. This approach is aimed at rectifying trade imbalances and protecting American markets.

Highlighting the impact of his policies, Trump asserted that pursuing tariffs would lead to immense financial gain and job creation. He expressed confidence in having success with trade negotiations, distinguishing his actions from those of the previous Biden administration, which he claimed lacked the resolve to address tariff disputes. Ultimately, Trump reinforced his administration’s stance against being “ripped off” by international trade practices, committing to protect U.S. interests in the global market.

In summary, President Trump’s announcement of reciprocal tariffs against India and China is part of his broader effort to address perceived inequities in international trade. By targeting high tariffs imposed by these countries, Trump aims to protect American businesses and ensure fair market access. His administration remains steadfast in its commitment to rectifying decades of perceived unfair trade practices.

Original Source: www.thehindu.com

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