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 Aug 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!”
This is a developing story and is being updated with further details
