Reciprocal tariffs, April 3 -- After weeks of suspense, the curtains were finally lifted on the reciprocal tariffs by the White House on April 2, imposing sweeping duties on all major trading partners. The base tariff rate was set at 10%, with the highest reaching up to 49%.

US President Donald Trump, on Tuesday, announced reciprocal tariffs on 180 countries, including the United States' closest allies like India and its biggest rival, China. By imposing duties on all major trading partners, his administration has escalated a fresh round of trade tensions worldwide.

This sweeping move by Trump has added another layer of uncertainty to the global economic landscape, raising concerns about supply chain disruptions, inflationary pressures,...