India, April 7 -- A new model calculated the impact of President Donald Trump's 'Liberation Day' tariffs on US households and the country's GDP. Designed by The Conversation's Steven Vass, the model concluded that if other countries hit Washington with equivalent tariffs, the US GDP would take a massive $438.4 billion (1.45%) hit.

Last week, President Trump announced reciprocal tariffs on several trade partners with the minimum baseline for each country at 10%. As per the White House's tariff chart, Vietnam will take a 46% tariff hit, Thailand is at 36%, China at 34%, Indonesia pays 32%, Taiwan at 32% and Switzerland at 31%. Beijing's 34% hit is in addition to an existing 20% tariff - taking the number to 54%.

While Canada and Mexico we...