Washington, July 30: US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1.
Trump, describing India as a “friend”, said the US has done relatively “little business” with the country because its high tariffs.
India’s tariffs are far too high, and they have the “most strenuous” and “obnoxious non-monetary trade barriers”, he said in a social media post.
India will be paying 25 per cent plus penalty starting August 1.
“Remember, 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. Also, 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 WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!,” Donal Trump said on Truth Social.
