US President Donald Trump will announce the imposition of tit for tat tariff (reciprocal tariff) across the world on Wednesday. The White House said on Tuesday – Trump will give a speech at the ‘Make America Wealthy Again’ event in the Rose Garden on Wednesday at 4 pm (local time). The announcement regarding the reciprocal tariff will be made in this event.
White House Press Secretary Caroline Levitt said – the tariff will be implemented immediately after the announcement. She also said that Trump has described April 2 as America’s Liberation Day on many occasions. He is going to impose reciprocal tariff on many other countries including India on this day.
Trump has decided on the level of tariff to be implemented on Wednesday. I do not want to go ahead of the President. This is a very big day. He is currently with his business and tariff team. We are improving it so that it becomes a perfect deal for the American people and workers. You will know about this in 24 hours. Actually, tariff is a kind of border fee or tax, which any country imposes on goods coming from abroad. This tax is imposed on the importing company. Countries control trade among themselves only by increasing or decreasing it.
Israel has completely abolished custom duty on products coming from America. America is Israel’s largest trading partner. America is Israel’s most important trading partner. Israel exported $17.3 billion to America in 2024. The Israeli government said that due to the free trade agreement with America in 1985, custom duty is already not levied on about 99% of American products.
In the joint session of the US Parliament, Trump had said – India charges more than 100% tariff from us, we are also going to do the same from next month. He announced that under his administration, if a company does not make its product in America, it will have to pay tariff. In some cases, this tariff will be very large. He said that other countries impose heavy taxes and tariffs on America, while America imposes very little on them. This is very unjust. Other countries have been imposing tariffs on us for decades, now it is our turn.
Trump said that ‘reciprocal tariff’ will be implemented in America from April 2. That is, whatever tariff they impose on us, we will also impose the same on them. Whatever tax they impose on us, we will also impose the same tax on them. Trump said laughingly, ‘I wanted to implement it on April 1, but then people would have considered it ‘April Fool’.’
After the announcement of the tariff, on March 7, Trump had said that India charges us a lot of tariff. You cannot sell anything in India. However, India now wants to reduce its tariff a lot, because we are exposing their deeds. He said – Our country has been looted by everyone, but now it has stopped. I had it stopped during my first term. Now we are going to stop it completely, because it is very wrong. America has been looted by almost every country in the world from the economic, financial and trade point of view.
Meanwhile, Trump claimed that India has decided to reduce tariffs on American products to a great extent. He said that many countries will reduce their tariffs because they know that they have been wrong with America. The European Union has already reduced its tariffs by 2.5%. I recently came to know that India is also going to reduce its tariffs to a great extent. At the same time, China, Japan and South Korea have united against this decision of Trump. This claim has been made in a post made by a social media account associated with Chinese state media CCTC.
China, Japan and South Korea held economic discussions on Sunday after five years. During this discussion, it was decided that the three Asian countries will promote mutual trade amid the announcement of additional tariffs by Trump. Apart from this, the trade ministers of the three countries have also expressed the possibility of a free trade agreement among themselves.
About three weeks ago, Trump had made a similar claim about India. Then the Indian government had rejected this claim. Indian Commerce Secretary Sunil Barthwal had told the parliamentary panel that India has not given any commitment to reduce tariffs with America. While giving information to the Parliamentary Committee on Foreign Affairs, Sunil Barthwal had clarified that the talks between India and America are still going on and no trade agreement has been finalized yet. Barthwal said that the claims of the US President and media reports cannot be trusted. India’s interests will be taken care of in any trade talks.
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