Trump Reciprocal Tariffs Live: At the same time, India also ramped up oil imports from Russia. Indian refiners imported 1.9 million barrels per day of Russian crude in March, up by 480,000 barrels from 1.47 million in February.
Trump will announce new tariffs (taxes on imported goods) on April 2, which will take effect immediately. The next day, April 3, additional tariffs on cars will begin, according to the White House.
Trump calls this day “Liberation Day” because he believes these tariffs will help American businesses. Since becoming president on January 20, he has already put high taxes on products from Canada and Mexico, as well as on metals and cars from other countries.
White House Press Secretary Karoline Leavitt said Trump is spending time with his trade advisors to finalise the details. “He is working to make sure this is the best deal for American workers,” she said. The full announcement will come soon.
Leavitt said Trump is open to talking with other governments and business leaders who want lower tariffs. However, she emphasised that he is focused on making sure American workers get treated fairly.
The White House has not given an exact number. In the past, Trump suggested a 10% tax on all imports. However, he has also talked about increasing tariffs to 20% or even 60% on goods from China.
Trump explained his policy simply: “If they charge us, we charge them.”