Ahead of the April 2 deadline for announcing the new reciprocal tariffs, Donald Trump has pledged a “very kind” yet firm approach towards all countries, including India.
Speaking to reporters at the Oval Office, Trump said, "We're going to be very nice, relatively speaking, we're going to be very kind. You're going to see in two days, which is maybe tomorrow night or probably Wednesday".
According to reports, Trump has suggested that the tariffs might extend to specific sectors, with a high possibility of pharmaceuticals and semiconductors being affected. The US President, who has dubbed April 2 as “Liberation Day”, further added that the measures would bring “tremendous wealth back to our country”.
Many of the tariffs, such as 25 percent duties on Canada and Mexico and a 25 percent tax on all auto imports, are scheduled to take effect this week.
Additionally, other tariffs, including a 20 percent duty on all imports from China and 25 percent duties on aluminum and steel, have already been implemented since last month.
The White House has stated that India applies a 100 percent tariff on American agricultural products, claiming that such elevated levies, in conjunction with those from other countries, render it "virtually impossible" for U.S. exports to compete.
White House Press Secretary Karoline Leavitt said, “If you look at the unfair trade practices - we have 50 per cent (tariff) from the European Union on American dairy and a 700 per cent tariff from Japan on American rice. You have a 100 per cent tariff from India on American agricultural products and nearly 300 per cent from Canada on American butter and cheese. So it's time for reciprocity, and it's time for a president to make a historic change, to do what's right for the American people.”