India, April 3 -- US President Donald Trump announced reciprocal tariffs on several countries, imposing a 34% tariff on goods from China, a 20% tariff on goods from the European Union, and a 10% tariff on goods from the United Kingdom.

"We subsidise a lot of countries and keep them going and keep them in business. Why are we doing this? I mean, at what point do we say you got to work for yourselves. This is why we have the big deficits. This is why we have that, amount of debt that's been placed on our heads over the last number of years, and we're really not taking it anymore," he said.

Trump added, "In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender. We ...