What are reciprocal rates, imposed by Trump on countries that have "looted us"

April 3, 2025 09:32 AM, which announces the reciprocal rates, Trump said that we “looted, looted, raped and looted by nations near and far, both friend and enemy.” US President Donald Trump did not even spare an uninhabited island on Wednesday, and revealed his reciprocal tariff plan for the world to anxiously, and slapped a 10 percent tax on the import of other countries and additional different charges on countries. President Donald Trump arrives to speak during an opportunity to announce new rates in the Rose Garden of the White House, Wednesday, April 2 (AP), including the 10 percent universal reciprocal tariff, Donald Trump announced a ‘discount’ 26 percent on India, 20 percent on the European Union, 46 percent on the 20 percent, which was on Japan and 36 percent on Japan. Following Trump Tariff News Live updates announcing the reciprocal rates from the White House, Donald Trump has said for decades that the US has been looted, looted, raped and looted by nations near and far, both friend and enemy. ‘ Also read: How did Russia, Canada, North Korea Donald Trump’s reciprocal rates escape on April 2? US President Donald Trump’s global tariff bomb on April 2, called ‘Liberation Day by him, did not even save the uninhabited Heard and McDonald Islands. The Australian area in the sub-Antarctic Indian Ocean was slapped by 10 percent rates on all its exports, despite the icy archipelago with no residents non-except many stamps, penguins and other birds. What are rates? Rates, or customs duties, are taxes on imported goods. This tax is usually passed on to consumers, increasing the cost of the product. For example, if a product worth £ 100 has a 10 percent Customs service, the price will rise to £ 110. Rates serve as a source of income for governments and may include anti-dumping duties, conflicting duties and protection duties, according to a PTI report from the news agency. Reciprocal rate which means that both reciprocal rate or retaliation rate refers to measures taken by countries to fit the increase in duties or high rates introduced by trading partners and are used synonymously. Read also | Donald Trump’s reciprocal rates to kick in from April 5: a guide of 10 points, for example, when the US imposed higher duties on certain steel and aluminum products in 2018, India again compared to raising rates on 29 US products, which recovered equivalent revenue. Why set up countries rates? Countries set up tariffs to make imported goods more expensive, which in turn encourages domestic manufacturing and job creation, a goal that Donald Trump wants to achieve through his actions. Rates also protect local industries from cheaper imports. What are the negative effects of rates? Higher import taxes can be inflationary, making raw materials or components more expensive for household industries. For example, if a local car manufacturer requires an imported component that is not produced locally, the rate will increase the cost of the component, making the final product more expensive for consumers. This is why Donald Trump’s reciprocal rates do not apply to certain goods, including copper, pharmaceuticals, semiconductors, wood, gold, energy and ‘certain minerals that are not available in the United States’, according to a White House fact page. Read Breaking News, the latest UK updates, UK, Pakistan and other countries around the world on topics related to politics, crime and national matters. Read Breaking News, the latest UK updates, UK, Pakistan and other countries around the world on topics related to politics, crime and national matters. See fewer