Mumbai, April 3 -- Donald Trump's "Liberation Day" tariffs have thrown the global trade landscape into turmoil, with the U.S. imposing a baseline 10% tariff on all imports and additional levies on 60 countries. China faces a sharp 34% tariff, while the EU and Vietnam are hit with 20% and 46%, respectively. Other key nations like India (26%), Japan (24%), and South Korea (25%) are also targeted. Trump justified the move by calling it a long-overdue correction, declaring that the U.S. will no longer be "ripped off."
Significantly, Canada and Mexico are exempt from these new duties, though their existing 25% tariffs remain in place. Critical industries like steel, aluminium, and automobiles, already taxed under previous policies, will not see...