New York/Washington, Apr 2 (PTI)

 

The US President listed the high tariffs charged by India on American products as he announced reciprocal tariffs on countries across the board, declaring a 26 per cent “discounted reciprocal tariff” on India.

 

“This is Liberation Day, a long-awaited moment. 2nd April 2025 will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again. We are going to make it wealthy, good, and wealthy,” Trump said on Wednesday in remarks from the Rose Garden at the White House as he announced the closely watched reciprocal tariffs on countries that impose levies on American goods.

 

“The United States charges other countries only a 2.4 per cent tariff on motorcycles. Meanwhile, Thailand and others are charging much higher rates, like 60 per cent. India charges 70 per cent, Vietnam charges 75 per cent, and others charge even higher rates,” he said.

 

“Likewise, until today, the United States has, for decades, charged a 2.5 per cent tariff. Think of that 2.5 per cent on foreign-made automobiles. The European Union charges us more than 10 per cent tariffs, and they have a 20 per cent VAT much, much higher. India charges 70 per cent and perhaps worst of all are the non-monetary restrictions imposed by South Korea, Japan, and many other nations as a result of these colossal trade barriers.”

 

As he announced the tariffs, he held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union charge, along with the reciprocal tariffs that these countries will now have to pay.

The chart indicated that India charged 56 per cent tariffs “including currency manipulation and trade barriers,” and America would now charge India a “discounted reciprocal tariff” of 26 per cent.

 

“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, and it was only seven years ago, when I came in, that we started with China.'”