India, April 3 -- As the end approached for the April 2 deadline set by United States President Donald Trump to impose reciprocal tariffs across the globe in order to what he believes will reform global trade, it was made clear that every import in the US will face a base tariff of 10 per cent. In addition, Trump announced harsh reciprocal tariffs on as many as 60 countries including India, China, Vietnam, Indonesia, many others as well as the European Union.

While the President has said that he did what he did to help the American economy, the cost of such tariffs might eventually have to be borne by the American consumers.

Several of the countries which faced the high reciprocal tariffs were responsible for huge chunks of imports in t...