The president’s trade move comes before the August 1 deadline for higher mutual tariffs on goods from nearly 180 countries around the world.
We and China are close to deals to extend the tariff ceasefire
The US and China could extend the tariff ceasefire ahead of the August 1 deadline.
WASHINGTON – President Donald Trump said he plans to impose a 25% tariff on imports from India and collect a “penalty” from the country to purchase military equipment and energy from Russia.
“India is our friend, but over the years we have been doing relatively little business with them as their tariffs are the highest in the world.
Trump added that India “is always buying a large portion of the military equipment from Russia and, together with Russia, is Russia’s biggest energy buyer, and when Russia wants to stop killings in Ukraine, everything is not good!”
Trump did not elaborate on the penalty.
The Trump announcement comes before August 1st. The higher mutual tariff deadline on goods from nearly 180 countries around the world will be enforced, including a 25% tariff on Indian imports.
Reach Joey Garrison with X @joeygarrison.
