On Monday (August 3, 2025), US President Donald Trump defended the reciperook tariff imposed on several countries including India and said that he should have done it many years ago. Trump insisted that America will pay its debt from hundreds of billion dollars coming in the country.
Talking to the media, Trump said, ‘We are going to repay the debt. We are getting a lot of money- more than the money that has come in the country so far. One of what we are going to do is to reduce debt. We should have done this many years ago. I did this during my first term with China. We could not do the rest of the work due to Kovid.
Our country will earn hundreds of billion dollars: Trump
The US President said, ‘I do not want any kind of pressure, I want fairness. We want mutual benefits wherever and as much as possible. Sometimes, it becomes too much for them. This will be a very large amount and I can only say that, our country will earn hundreds of billion dollars.
Economic policy changed after returning to White House
Trump was sworn in as the US President in January this year and made a second return to the White House. He ended America’s old Global Economic Order. Trump decided to punish the countries that were unilateral tariffs and achieved huge concessions from the country who agreed with the reciperook tariff.
When did Trump announce the tariff?
On April 2, the US President announced a 50 per cent recipe tariff on imports from countries with which America’s trade deficit was. Along with this, a baseline tariff of 10 percent was imposed on all countries. He cited a 1977 law to declare the trade deficit as a national emergency, which justified his comprehensive import taxes. After this announcement, when there was a ruckus, they postponed the reciperook tariff for 90 days to give countries a chance to negotiate. Eventually, some countries succumbed to Trump’s demands. Countries that did not do so suffered more loss than tariffs.
Which countries are the most tariffs imposed on?
Trump imposed tariffs from 10 to 50 percent on 69 countries. These included 41 percent on Syria, 35 percent on Canada, 50 percent on Brazil, 25 percent on India, 39 percent on Switzerland and 20 percent on Taiwan. The US President had imposed a 29 percent tariff on Pakistan, which then reduced to 19 percent after the oil deal.
Also read- Increased tariff on India, reduced on Pakistan … Now what are Trump to talk about the battle with the name of both countries?