US President Donald Trump’s sweeping set of tariffs targeting more than 90 countries came into force just after midnight Thursday, marking a significant escalation in the trade offensive. “It’s midnight! Billions of dollars in tariffs are now flowing into the United States of America!” Trump wrote on Truth Social.
In an earlier post on Wednesday, Trump had said: “Reciprocal tariffs take effect at midnight tonight! Billions of dollars, largely from countries that have taken advantage of the United States for many years, laughing all the way, will start flowing into the USA.”
India, as part of the first tranche, faces 25 per cent tariffs. However, this was doubled on Wednesday by the US President to 50 per cent, with the addition 25 per cent kicking in after a 21-day window.
A White House statement said the US will impose “additional 25 per cent ad valorem duty” above the 25 per cent reciprocal tariffs announced on August 1 to “deal with the national emergency stemming from Russia’s actions in Ukraine”. This tariff is deemed necessary and appropriate due to India’s “direct or indirect import of Russian Federation oil”, which the President judges will more effectively address the national emergency, the executive order said.
