US President Donald Trump christened April 2, 2025, as Liberation Day as the White House is set to unleash a set of tariffs. The global trade will experience a rapid change from Wednesday as the tariffs and reciprocal tariffs kick in. The markets could react strongly as its entering unchartered territory never experienced before. Trump’s tariffs have ignited a series of trade wars with some countries challenging the US, while others obeying his demands. India is set to drop tariffs on US goods entering the country ahead of Liberation Day, announced Trump.
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“I think I heard that India, just a little while ago, is going to be dropping its tariffs very substantially (on Liberation Day). I said, why didn’t somebody do this a long time ago. A lot of countries are going to be dropping their tariffs,” said Trump during a press conference.
Liberation Day: India to Reduce Tariffs on US Goods Entering the Country
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India imposes a 100% tax on American agricultural products and cars entering the country. Trump claimed that the taxes made it “virtually impossible” for US products to be imported into the country. Therefore, he claimed that India would begin easing taxes ahead of Liberation Day and trade fairly. The President cited that the tariffs will be a “big game changer for our country.”
Apart from India, Trump stated that several countries are set to drop tariffs ahead of Liberation Day. “I think a lot of (countries) will drop their tariffs because they’ve been unfairly tariffing the United States for years. If you look at the European Union on cars, the European Union already dropped its tariff to 2.5%. It was announced a couple of days ago. A very small tariff. The United States charged very little,” Trump said while responding to questions from reporters in the Oval Office.
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