Washington DC [US], April 3 (HBTV): US President Donald Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world, with India facing a 26% tariff.

Calling Prime Minister Narendra Modi a 'great friend,' Trump said that India charges the US 52%, while 'we charge them almost nothing.'

Trump's announcement came while he addressed the Make America Wealthy Again event.

At the event, Trump said, 'India very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52% and we charge them almost nothing...'

Trump further stated, 'The United States charges other countries only a 2.4% tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like 60%, India charges 70%, Vietnam charges 75%, and others are even higher than that.'

The US President also announced that a 25% tariff would be imposed on all foreign-made automobiles.

'Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don't blame these other countries at all for this calamity. I blame former presidents and past leaders who weren't doing their job... Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles,' Trump said.

The import tariffs on other major countries are: China (34%), European Union (20%), Vietnam (46%), Taiwan (32%), Japan (24%), India (26%), United Kingdom (10%), Bangladesh (37%), Pakistan (29%), Sri Lanka (44%), and Israel (17%).

Trump also emphasized that after decades of exploitation, the era of American taxpayers being 'ripped off' was over.

'Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore,' he said.

Trump further added, 'In a few moments, I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal: That means they do it to us and we do it to them. This is one of the most important days, in my opinion, in American history. It is our Declaration of Economic Independence. For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense. With today's action, we are finally going to be able to make America great again, greater than ever before.'

Earlier on Tuesday, the White House had stated that the tariffs would go into effect immediately. (ANI)