The sweeping penalties announced against the serene backdrop of the White House Rose Garden on Wednesday immediately unleashed turbulence across world markets and drew condemnation from other leaders now facing the end of decades of trade liberalization that have shaped the global order.
As Asia digested the news on Thursday, Japan’s Nikkei share index slumped to an eight-month low, with U.S. and European stock futures also diving as investors scrambled to the safety of bonds and gold. The benchmark BSE Sensex was down 0.4% to 76,331, while the broader NSE Nifty 50 declined 0.3% to 23,268, dragged by IT stocks, after the U.S. President Donald Trump imposed reciprocal tariffs on imports from the South Asian nation.
Here’s a look into how rates have changed after April 2 move:
| Country | Old Tariff Rate | New Tariff Rate (April 2, 2025) |
| China | 20% (increased from 10% on March 4, 2025) | 34% |
| Vietnam | 5-10% | 46% |
| Japan | 2-5% | 24% |
| South Korea | 3-6% | 25% |
| India | 5-10% | 26% |
| Taiwan | 3-7% | 32% |
| Thailand | 5-10% | 36% |
| European Union | 2-5% | 20% |
| Israel | 0-2% | 17% |
| Cambodia | 10-15% | 49% |
| Canada | 25% (imposed on March 4, 2025, on some goods) | Exempt |
| Mexico | 25% (imposed on March 4, 2025, on some goods) | Exempt |
| Baseline Tariff | 1.47% (weighted average applied tariff in 2021) |
10% (on nearly all imports) |
Source link
[ad_3]
[ad_4]