India in the crosshairs: Trump’s trade war culminates in 25% tariff – 10 points
Since taking office, US President Donald Trump’s aggressive tariff strategy has sent ripples through the global economy, with India now joining the growing list of nations facing steep import duties.Here is how Trump’s trade war has evolved so far:1. Trump Imposes Tariffs on Mexico, Canada, and China (February 1)Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the US2. Steel and Aluminum Tariffs Raised (February 10)Trump raises tariffs on steel and aluminum to a flat 25% “without exceptions or exemptions”.3. Blanket Global Tariffs Announced (April 2)Trump announces global tariffs with a baseline of 10% across all imports and significantly higher duties on some of the United States’ biggest trading partners.4. Blanket Duty Maintained Amid Market Upheaval (April 9)The 10% blanket duty on almost all US imports stays in place.5. US and China Agree to Temporary Tariff Cuts (May 12)The US and China agree to temporarily slash reciprocal tariffs. Under the 90-day truce, the US will cut the extra tariffs it imposed on Chinese imports to 30% from 145%, while China’s duties on US imports will be slashed to 10% from 125%.6. Trump Recommends 50% Tariff on EU Goods (May 23)Trump says he is recommending a straight 50% tariff on goods from the European Union starting on June 1. He backpedals on this threat two days later.7. Steel and Aluminum Tariffs Hiked to 50% (June 3)Trump signs an executive proclamation activating a hike in the steel and aluminum tariffs to 50% from 25%.8. Tariffs on BRICS-Aligned Countries (July 6)Trump says on Truth Social that countries aligning themselves with the “Anti-American policies” of BRICS will be charged an additional 10% tariff.9. Higher Duties for 14 Countries Announced (July 7)In letters sent to 14 countries, including Japan, South Korea and Serbia, he says that will include tariffs between 25% and 40%.10. 25% Tariff on Indian Imports Announced (July 30)He says in a post on Truth Social the US will impose a 25% tariff on goods imported from India starting on August 1.(With inputs from agencies)
