India, April 2 -- Donald Trump is scheduled to announce new tariffs on April 2, which he refers to as "Liberation Day" for America. The nations that levy high tariffs on US goods or have restrictive trade policies that the White House deems unfair will be the focus of these penalties.

The precise nature of the tariffs is still unknown, but some countries are anticipated to be the most affected by the new regulations. The increased tariffs are perceived as a reaction to Trump's administration's repeated claims that current trade regulations favor foreign nations over the US.

Trump claimed in his Monday speech that the United States needs to impose "reciprocal tariffs" as it has been "ripped off by every country in the world". He called h...