Donald Trump's tariff ‘Liberation Day’ begins, India and others brace for impact

President Donald Trump's government is set to introduce new tariffs on April 2, targeting trade partners with high import duties on US products. These tariffs are part of Trump's "reciprocal trade" policy, aimed at ensuring fairness in global trade.

White House spokeswoman Karoline Leavitt stated that the new plan is designed to correct long-standing trade imbalances. “The president will roll back unfair trade practices that have been harming the US economy,” she said.

The announcement follows Trump's discussions with top advisors, ensuring the deal is "perfect" before implementation. While details of the plan remain unclear, one confirmed measure is a 25% tariff on auto imports, which will take effect on April 3.

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Global reactions and India's strategy

Countries worldwide, including India, are monitoring the situation closely. India has been working on a bilateral trade agreement with the US despite Trump's demands for lower Indian tariffs. Indian trade officials have mapped out possible outcomes and remain optimistic about ongoing negotiations.

US Treasury Secretary Scott Bessent informed lawmakers that these tariffs would serve as a "cap" on the highest trade duties. However, reductions could be made if countries meet US demands. Reports suggest that Trump's team is considering an across-the-board increase of 20% on imports, with possible rebates for affected industries.

Reactions from US allies have been strong. Canada has vowed to introduce counter-tariffs, while European Commission President Ursula von der Leyen said the EU prefers negotiations but is prepared to defend its businesses.