Wednesday, April 9, is set to be a news-heavy day.
US President Donald Trump’s specific reciprocal tariffs on roughly 60 of the “worst offenders”, including the European Union, China, Vietnam, and other countries will come into effect today.
Also, on this day, India’s central bank, the Reserve Bank of India, will announce if it will cut its repo rate in response to Trump’s tariff policy. Britain’s King Charles and wife, Queen Camilla, will also meet Italian Prime Minister Giorgia Meloni today amid their four-day visit to the European country.
Here’s what else is in store today.
Trump’s second round of tariffs kick in
It is April 9. At 12:01 am Eastern Time, the US will begin its second round of tariffs — ranging from 11 per cent to as high as 50 per cent — on imports, marking a significant change in American trade policy since World War II.
This round of tariffs on countries such as China, India, and the European Union come after new 10 per cent “baseline” tariff on imports came into effect on April 5. This round of levies will see the US impose a 54 per cent tariff on China, which has now been increased to 104 per cent, a 39 per cent tariff on the European Union and 26 per cent on India.
Content retrieved from: https://www.firstpost.com/explainers/firstup-tariffs-rbi-rates-big-news-today-13878344.html.
