Trump Tariff News LIVE: US President Donald Trump is all set to announce reciprocal tariffs on 2 April, which will immediately come into effect. Donald Trump has styled the new US tariff plans as coming on America’s “Liberation Day”.
Earlier, the White House had slammed India for imposing a 100 per cent tariff on America’s agricultural products and highlighted similar trade barriers in the EU, Japan, and Canada.
According to reports, quoting US Treasury Secretary Scott Bessent, the US President will announce the tariffs in the Rose Garden of the White House at around 4 pm Washington time on April 2, which is 1:30 am IST on April 3.
Experts suggested that US companies which import goods will have to pay the new taxes soon after the announcement, while alarming the situation raises the possibility of a recession in the US and in other countries.
The new Trump tariffs are a bid to boost US manufacturing and punish other countries for what he has said are years of unfair trade practices. However, many economists have flagged that the new tariffs imposed by Donald Trump threaten to plunge the economy into a downturn and mangle decades-old alliances.
Stay tuned with Live Mint for all the LIVE action.
