US President Donald Trump on Wednesday said India will be subjected to a 25 per cent tariff along with an additional penalty starting August 1, citing trade practices and continued ties with Russia.
In a social media post on Truth Social, Trump claimed the US has done relatively little business with India over the years due to its “high tariffs” and “obnoxious non-monetary trade barriers.”
He also criticised India for being a major buyer of Russian military equipment and energy, especially at a time when the international community is urging Russia to halt its actions in Ukraine.
“All things not good,” Trump wrote, announcing the tariff.
In another post, US President Donald Trump said, “WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!”
Tariffs—taxes on imported goods has been Trump's concern. He has often criticised India claiming that the country charges “very high tariffs” on American products.
Earlier in April, Trump had announced fresh tariffs of up to 27 per cent on Indian goods. However, that decision was later put on hold, and since then, both countries have been trying to finalise a trade deal.
“We continue to speak with our Indian counterparts. We’ve always had very constructive discussions with them,” US trade representative Jamieson Greer told the BBC earlier this week.
According to news agency PTI, a US team is expected to visit India next month for the next round of talks on the proposed bilateral trade agreement.
{{/usCountry}}According to news agency PTI, a US team is expected to visit India next month for the next round of talks on the proposed bilateral trade agreement.
{{/usCountry}}The fifth round of negotiations concluded in Washington last week. The discussions were led by India’s chief negotiator and special secretary in the Department of Commerce, Rajesh Agrawal, and Brendan Lynch, the US assistant trade representative for South and Central Asia.