US Imposes 25% Tariff On Indian Imports From August 1, Cites India’s Oil Imports And Trade Barriers As Reasons
New York : US President Donald Trump on Wednesday declared the imposition of a 25% tariff along with additional penalties on Indian imports, effective August 1. He cited India’s continued oil imports from Russia and longstanding trade barriers as key reasons.
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, Trump wrote.
He also pointed to India’s defense and energy ties with Russia and wrote, They have always bought the vast majority of their military equipment from Russia and are one of Russia’s largest energy buyers, along with China, at a time when the world 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 1st. Thank you for your attention to this matter. MAGA!, he announced. The announcement comes a day after he told reporters that a trade deal was not finalised between the two countries and hinted at tariffs as high as 25 per cent.
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