Donald Trump Announces Reciprocal Tariffs, What Does It Mean?
US President Donald Trump has asserted that Washington will not spare India from reciprocal tariffs. The President has set in motion his plan to impose reciprocal tariffs on imports, which is expected to further deepen the global trade war. 'Reciprocal tariffs' are tariffs designed to match the tax rates that other countries charge on imports, endorsing a 'tit-for-tat' approach towards international trade. These duties, which are indirect taxes, are a source of revenue for a country. Anti-dumping duty, countervailing duty or safeguard duty are also kinds of tariffs.
