Donald Trump imposes reciprocal tariffs on 60 countries, including India, China, EU, Taiwan – Full details here

US President Donald Trump has announced a comprehensive tariff policy, imposing reciprocal duties on imports from 60 countries as part of his administration’s efforts to address trade imbalances and bolster American industries. The policy includes a 10% baseline tariff on all imports, with significantly higher duties for nations running trade surpluses with the United States.

The highest tariffs have been imposed on Cambodia (49%), Vietnam (46%), and Sri Lanka (44%), reflecting Trump’s strategy to target countries with substantial trade surpluses.

Other Asian economies such as Bangladesh (37%), Thailand (36%), Taiwan (32%), and Indonesia (32%) also face steep levies. China, a key target of Trump’s trade policies, will be subjected to a 34% tariff, while the European Union will see a 20% duty on its exports to the US.

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Key American allies, including Japan (24%), South Korea (25%), and India (26%), have not been exempted, indicating the broad scope of the tariffs.

Additionally, the United Kingdom, Brazil, Singapore, Chile, Australia, and Turkey will each face a 10% duty. Israel (17%), the Philippines (17%), and South Africa (30%) are also among the affected countries.

Trump has also confirmed a 25% tariff on automobile imports, set to take effect on April 3. Speaking at the White House on Wednesday, the president justified the aggressive tariff measures, claiming they were necessary to correct longstanding economic imbalances. “Our country has been looted, pillaged, raped, plundered by other nations,” Trump stated.

Canada and Mexico, two of the United States’ largest trading partners, are already subject to 25% tariffs on multiple goods. The new 10% baseline tariff on all other imports will be implemented starting Saturday at 12:01 AM ET.

The Trump administration expects these tariffs to generate hundreds of billions of dollars annually, with the president promising they will lead to a resurgence of domestic manufacturing jobs. “For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. But now it’s our turn to prosper,” Trump declared.

Trump announces 26% reciprocal tariff on India, citing high duties on US goods

Trump has announced a 26% “discounted reciprocal tariff” on Indian imports, citing the high tariffs imposed by India on American goods.

While unveiling the tariff plan, Trump highlighted that India levies substantial duties on US products. According to a chart presented by the administration, India imposes a 56% tariff on American goods. To counter this, the US will now charge India a 26% tariff, which Trump described as a “discounted reciprocal tariff.”

Referring to his discussions with Indian Prime Minister Narendra Modi, Trump acknowledged their friendly relations but insisted that trade policies needed to be more balanced. “India, very, very tough. Very, very tough. The Prime Minister just left. He’s a great friend of mine, but I said, ‘You’re a friend of mine, but you’re not treating us right.’ They charge us 52%. You have to understand, we charge them almost nothing for years and years and decades,” Trump stated.