Washington: US President Donald Trump has announced the imposition of reciprocal tariffs on approximately 100 countries, a move that is being described as the beginning of a potential global trade war.<\/p>\n
A tariff is a tax on imported goods, generally imposed by countries to protect domestic industries from foreign competition.<\/p>\n
Trade expert Vishwajit Dhar explains that reciprocal tariffs refer to tariffs two countries impose on each other\u2019s mutual trade, ensuring the tariffs are equal. For instance, India\u2019s tariffs on US goods and the US\u2019s tariffs on Indian goods should be comparable.<\/p>\n
Trump’s action, which includes what he calls a “discounted reciprocal tariff,” sees the US imposing tariffs lower than those other countries place on American goods.<\/p>\n
Some countries will face tariffs that are half or nearly half of what they impose on US products, while others will face equal tariffs. A baseline tariff of 10 percent has been set for certain nations.<\/p>\n
Trump has described the move as America\u2019s “Liberation Day,” claiming that the country has been waiting for this moment for a long time.<\/p>\n
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Washington: US President Donald Trump has announced the imposition of reciprocal tariffs on approximately 100 countries, a move that is being described as the beginning of a potential global trade war. A tariff is a tax on imported goods, generally imposed by countries to protect domestic industries from foreign competition. Trade expert Vishwajit Dhar explains […]<\/p>\n","protected":false},"author":1,"featured_media":38399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[1700,1701,1702],"class_list":["post-40585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-a-move-that-is-being-described-as-the-beginning-of-a-potential-global-trade-war-a-tariff-is-a-tax-on-imported-goods","tag-know-what-is-reciprocal-tariffs-imposed-by-us-president-trump","tag-why-it-sparks-global-trade-tensionswashington-us-president-donald-trump-has-announced-the-imposition-of-reciprocal-tariffs-on-approximately-100-countries"],"yoast_head":"\n