US President Donald Trump on Friday announced that he will soon impose reciprocal tariffs on countries like India and China, asserting that the United States will charge the same tariffs these nations impose on American goods.

U.S. President Donald Trump's threat to impose reciprocal tariffs from early April is feeding anxiety in India's export sectors from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

Reciprocal and retaliatory tariffs are imposed by countries to match hikes in duties or high tariffs by trading partners.