The main impact on India will not be US tariffs. It will be the coming recession caused by Trump’s actions. That will depress the GDP of all countries, including the US and India.
On April 2, US President Trump announced the highest, most irrational import tariffs since 1910, declaring this was America’s ‘Liberation Day’. It would be better to call it Recession Day. Or Trade War Day. Or Economic Stupidity Day.
He announced a flat 10% tax on all imports. In addition, in 60 countries he imposed a supposed ‘reciprocal tax’ ranging from 10% to 50%. He released a chart labelled ‘Tariffs Charged to the U.S.A. Including Currency Manipulation and Trade Barriers’, exhibiting the unfair practices of trading partners.
He announced a flat 10% tax on all imports. In addition, in 60 countries he imposed a supposed ‘reciprocal tax’ ranging from 10% to 50%. He released a chart labelled ‘Tariffs Charged to the U.S.A. Including Currency Manipulation and Trade Barriers’, exhibiting the unfair practices of trading partners.
This article was originally published by The Times of India on Ape 6, 2025
