New Tariffs Take Effect Starting Today
New tariffs by ex-President of the U.S. Donald Trump are now active. The tariffs target a few nations, and India is one of them. Trump revealed why he did this in a post on Truth Social.
Countries Have Long Benefited from U.S.
Trump informed that some nations have exploited the U.S. for decades. He thinks the new tariffs will bring back billions of dollars into the American economy. He underlined that the reciprocal tariffs are needed and fair.
Trump Criticizes Left-Leaning Courts
Trump mentioned in the same post that left-leaning courts are the primary hindrance to America's prosperity. He underlined that the U.S. would be more successful without these judicial stumbling blocks.
Information about the New Tariff Rates
Donald Trump recently announced a series of tariffs for various nations. These new changes come under the "Further changes in retaliatory tariffs" policy. He signed an executive order to establish new tariff rates of between 10% and 41%.
- Syria was subjected to the highest rate of increase at 41%.
- Brazil has now been subjected to an additional 40% tariff, on top of the previous 10%.
- Pakistan's tariff rate was reduced from 29% to 19%.
- India is subjected to a new 25% tariff for buying oil from Russia.
Tariff Increase on India will be 50%
The U.S. raised India's tariff to 50% via a new executive order. The new rate is to take effect on the 27th of this month. The hike is due to India's oil commerce with Russia.
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