On Wednesday, President Donald Trump announced that the United States would begin imposing a hefty 25% tariff on goods imported from India starting on August 1st. India, possessing the world’s fifth-largest economy, will also contend with an additional, unknown penalty on that same date.
However, Trump did not provide further details about the nature or amount of this penalty.
In a post on Truth Social, Trump commented, ‘While India is our ally, historically we have conducted minimal trade with them because their tariffs are excessively high, among the highest globally, and they uphold the most rigid and objectionable non-monetary trade barriers of any nation.’
He further criticized, ‘India has consistently sourced the majority of its military equipment from Russia and is Russia’s largest energy buyer, alongside China, especially when global sentiment is urging Russia to CEASE THE VIOLENCE IN UKRAINE — ALL OF THIS IS NOT FAVORABLE!’
India’s commerce ministry, currently spearheading trade negotiations with the United States, did not provide an immediate response to a request for comment. Trump’s decision seemingly quashes the prospects of a limited trade agreement between the two countries, which had been in discussions for several months.