Trump: 25% Tariffs on India Starting August 1
SadaNews - President Donald Trump announced today, Wednesday, that a 25% tariff will be imposed on India starting August 1.
Trump mentioned that additional sanctions - yet to be specified - would be imposed if India continues to purchase Russian energy.
The American president confirmed that the deadline for reaching trade agreements with several trading partners, which ends on August 1, "will not be extended," according to the Associated Press.
Trump's remarks come after reports indicated that India is preparing to accept higher tariffs ranging from 20% to 25% on its exports to the United States in the absence of a trade agreement, as it delays making new concessions ahead of the deadline on Friday.
Trump stated on Tuesday: "India is a good friend, but it charges tariffs higher than almost any other country," adding that this will come to an end.
Indian officials said that New Delhi plans to resume broader trade talks with the United States in mid-August when an American delegation visits India, hoping to finalize a comprehensive bilateral trade agreement by October.
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