Trump says US to impose 25% tariff on India from 1 August

US President Donald Trump yesterday said the US will impose a 25% tariff on goods imported from India starting on 1 August, Reuters reported.

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It quoted Trump as saying India, which has the world’s fifth largest economy, will also face an unspecified penalty on 1 August, but did not 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!"

India's Commerce Ministry, which is leading trade negotiations with the US, did not immediately respond to a request for comment, Reuters said.