Trump rolls out global tariff plan, India faces 25% surcharge
US President Donald Trump just rolled out a new global tariff plan, setting a standard 10% tax on all imports—but some countries get steeper rates.
India now faces a 25% tariff, while Switzerland, Taiwan, and South Africa are looking at even higher surcharges (up to 39%).
The move comes just hours before Trump's self-imposed deadline after pausing country-based tariffs to allow for negotiations.
Countries divided into 3 groups based on trade balance
Countries are split into three groups: those with trade surpluses get the base 10% tariff, others with moderate deficits or special deals pay around 15%, and nations with bigger deficits—like Canada—face much higher rates (Canada's jumps to 35%, unless covered by USMCA).
Despite these changes, markets haven't reacted much so far, suggesting investors might be waiting to see what happens next.