US President Donald Trump said on Wednesday that United States will impose a 25% tariff on goods imported from India starting on Aug 1.
In a fiery statement posted on his Truth Social platform on Wednesday, Trump criticized India’s trade practices, accusing it of maintaining “among the highest tariffs in the world” and enforcing what he called “strenuous and obnoxious non-monetary trade barriers.”
“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. “INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY, STARTING ON AUGUST FIRST.”
Trump did not elaborate on the nature or amount of the additional penalty, but he hinted that it was linked to India’s defense partnerships with Russia. “India has always bought a vast majority of their military equipment from Russia,” he added.
The US president further highlighted the massive trade deficit the United States holds with India, suggesting that the new tariff measures are designed to address the imbalance and force India to open its markets more fairly. “WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!” he added.
White House economic adviser Kevin Hassett reacted to the newly announced tariffs on India, saying that President Trump is disappointed with the lack of progress in trade relations between the two countries. “President Trump believes that the imposition of tariffs will help improve the trade situation,” Hassett stated.
He added that the US president would soon provide further details regarding the additional penalties being considered against India. “We are hopeful that India will take steps to open its market to American goods,” the adviser said.
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