Key Points
Trump anticipates India will significantly reduce trade barriers
US preparing major tariff announcement on "Liberation Day"
White House aims to address unfair international trade practices
Potential economic realignment in global trade dynamics
"I think I heard that India just a little while ago is going to be dropping its tariffs very substantially and I said why didn't somebody do this a long time ago," he said.
Trump was asked if his tariffs- which are to be effective from Wednesday- may push countries to side with China, to which he promptly said that the tariffs would actually help the countries do better.
He did not explain how that would be.
"No, I'm not worried about it. I think they have a chance of doing better actually with the tariffs. It can actually help them in a certain way and I think a lot of them will drop their tariffs because they've been unfairly tariffing the United States for years," he said.
Trump said that the European Union had dropped its tariffs on US made cars to 2.5 per cent.
"If you look at the European Union- on cars, the European Union already dropped their tariff down to 2.5 per cent. It was announced a couple of days ago, which is a very small tariff the United States charged," he said.
Trump will unveil a new tariff plan on April 2, which he has dubbed "Liberation Day," in his first Rose Garden press conference of his second term, CNN reported.
White House Press Secretary Karoline Leavitt confirmed Monday that the full cabinet will be present for the event, but specifics of the plan remain uncertain as Trump and his administration have floated multiple, sometimes conflicting, proposals in recent weeks.
"Wednesday, it will be Liberation Day in America, as President Trump has so proudly dubbed it," Leavitt said. "The President will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. He's doing this in the best interest of the American worker."
