Kathmandu. US President Donald Trump has imposed tariffs on various countries that have come into effect from today. Trump has not spared America’s enemies as well as friends.
The Trump administration has imposed six different types of tariffs. Commodity specific tariffs have also been imposed. Steel, aluminium and copper parts, for example, are subject to a 50% tariff. Similarly, 25% tariff has been imposed on auto and auto parts. Medicines and aircraft have been kept tariff-free. India and China are the largest suppliers of generic medicines. Similarly, the US imports aircraft parts from abroad.
Trump has included fentanyl, reciprocal, temporary, basic, newer and compromise-level tariffs. In April, India imposed a reciprocal tariff of 26%. Now it has been reduced to 25%. Fentanyl tariffs are imposed only in China. Earlier, Pakistan had imposed 29% reciprocal customs duty, while in Bangladesh it is 37%. Now in Pakistan, this tariff has been reduced to 19%.
China, the world’s second-largest economy, has the highest tariffs. The two countries have been locked in a trade war for a long time. Trump imposed a 10% fentanyl tariff on China on February 1. It was then increased to 20% on March 4. On April 2, 54% reciprocal tariffs were imposed in China. When China retaliated, it was first raised to 104% and then to 145%. After the negotiations, the agreement was reached at 30% on May 12.
Among the large economies, India has the highest tariff after Brazil. But this is nothing compared to poor countries and tariff heaven countries. For example, it is 29.5% in Bermuda, 20.4% in the Cayman Islands and 16.3% in the Bahamas. Poor countries such as Congo and Equatorial Guinea impose tariffs of more than 15%.
