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Trump imposes tariffs, penalties on India due to its continued trade with Russia
(MENAFN) US President Donald Trump declared that India will face a 25% tariff along with additional penalties starting next month due to its ongoing trade dealings with Russia. This decision follows Trump’s issuance of a ten-day ultimatum for Russia to reach a peace agreement with Ukraine.
In a post on his Truth Social platform, Trump said, “India is our friend,” but highlighted that the US does “relatively little business with them.” He pointed out that despite the conflict in Ukraine, India has continued purchasing military equipment and energy supplies from Russia.
“All things not good! India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August first,” Trump wrote.
Earlier this year, the US had imposed 26% tariffs on Indian imports, including aluminum, steel, and related products, as part of Trump’s ‘Liberation Day’ tariffs, but later temporarily lifted those duties.
India has responded by stating it will only pursue trade agreements with the US from a position of strength and refuses to accept deadlines or use negotiations as leverage.
In a post on his Truth Social platform, Trump said, “India is our friend,” but highlighted that the US does “relatively little business with them.” He pointed out that despite the conflict in Ukraine, India has continued purchasing military equipment and energy supplies from Russia.
“All things not good! India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August first,” Trump wrote.
Earlier this year, the US had imposed 26% tariffs on Indian imports, including aluminum, steel, and related products, as part of Trump’s ‘Liberation Day’ tariffs, but later temporarily lifted those duties.
India has responded by stating it will only pursue trade agreements with the US from a position of strength and refuses to accept deadlines or use negotiations as leverage.
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