US tariffs hike a self objective; impression on India shall be smaller: Raghuram Rajan

“That is Liberation Day, a long-awaited second. April 2, 2025 will ceaselessly be remembered because the day American trade was reborn, the day America’s future was reclaimed, and the day that we started to make America rich once more. We’re going to make it rich, good, and rich,” Trump mentioned in his remarks from the Rose Backyard on the White Home on Wednesday, 2 April.

He mentioned the US prices different international locations solely a 2.4 per cent tariff on bikes, however Thailand and others are charging a lot larger charges, like 60 per cent, India 70 per cent, Vietnam 75 per cent and others cost even larger charges.

As he introduced the tariffs, he held up a chart that confirmed the tariffs that international locations akin to India, China, the UK, and the European Union cost, together with the reciprocal tariffs that these international locations will now need to pay.