WASHINGTON:
US President Donald Trump said on Wednesday that United States will impose a 25% tariff on goods imported from India starting on August 1. Trump said India will also face an unspecified penalty on August 1, but he did elaborate on the amount or what it was for.
“While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,” Trump wrote in a Truth Social post.
“They have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE – ALL THINGS NOT GOOD!”
India’s commerce ministry, which is leading the trade negotiations with the US, did not immediately respond to a request for the comment.
Read More: Trump to India: Trade deal by Aug 1 or face tariffs
Earlier, US President Donald Trump said a trade deal with India has yet to be finalised and warned of possible higher tariffs ahead of an August 1 deadline to seal an agreement.
His comments followed a Reuters report that India was preparing to accept higher tariffs of 20%-25% on its exports to the US in the absence of a trade deal, as it holds off on offering fresh concessions ahead of Friday’s deadline.
“India has been a good friend, but India has charged more tariffs, almost more than any other country,” Trump told reporters aboard Air Force One on Tuesday, adding that it would come to an end.
Asked about the Reuters report, Trump said a trade deal had not been finalised and India could face steeper tariffs.
