Trump tariff war: The initial 25 per cent tariffs announced by US President Donald Trump on Indian imports and 90 other countries came into effect on Thursday. Last week, the White House announced that India will face tariffs of 25 per cent after Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world. In the Executive Order titled ‘Further Modifying The Reciprocal Tariff Rates’, Trump had announced tariff rates for nearly 70 nations.
The 25 per cent “Reciprocal Tariff, Adjusted” imposed on India came into effect beginning Thursday.
Trump impses additional tariff on India
In addition to the 25 per cent tariff announced last week, Trump on Wednesday imposed another 25 per cent levies on India for its purchases of Russian oil, bringing the total duties slapped on India to 50 per cent, among the highest imposed by the US on any country in the world.
When will Trump’s tariff comes into effect in US?
The tariff modifications will be “effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am eastern daylight time 7 days after the date of this order.” The tariffs in the list ranged from 10 per cent to 40 per cent, with Japan being charged 15 per cent, Laos and Myanmar (40 per cent each), Pakistan (19 per cent), Sri Lanka (20 per cent) and the United Kingdom (10 per cent).
(Note: Except for the headline, this article has not been edited by The Daily Jagran and has been published through a syndicated feed. Source – PTI)