In a significant move to tackle America's trade deficit, U.S. President Donald Trump announced sweeping tariffs on 85 countries, including the EU, China, India, Japan, and South Korea. The new tariffs include a baseline 10% tariff, with higher rates for specific nations: 34% on China, 27% on India, 20% on the EU, 24% on Japan, and 25% on South Korea. While the baseline tariff takes effect on April 5, the higher tariffs will be implemented on April 9. This decision comes under the International Emergency Economic Powers Act (IEEPA) to address the trade imbalance. For India, the U.S. highlights burdensome certification and testing requirements in sectors like chemicals, telecom, and medical devices, which make it difficult for U.S. companies to access the Indian market. The White House estimates that removing these barriers could boost U.S. exports by $5.3 billion annually.

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