Trump announces 25% tariffs on imports from India starting Aug. 1
The Republican also informed that he will apply a "penalty" to India for buying military equipment and oil from Russia. However, he did not elaborate on that measure.
Donald Trump
President Donald Trump announced that imports from India will face a 25% tariff starting Aug. 1. He also reported that he will apply a "penalty" for buying military equipment and oil from Russia.
"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," Trump said Wednesday on Truth Social.
Trump further noted that India has purchased most of its military equipment from Russia and is among the top buyers of Russian oil, "when everyone wants Russia to STOP THE KILLING IN UKRAINE."
The 25% rate announced Wednesday, AFP recalled, is just one percentage point lower than the 26% rate it had forecast for India in April.
Negotiations against the clock
"No extensions, no more grace periods. Aug. 1, the tariffs are set. They’ll go into place, customs will start collecting the money, and off we go," Commerce Secretary Howard Lutnick maintained over the weekend. "Obviously after Aug. 1, people can still talk to President Trump. I mean, he’s always willing to listen."
That same day, Trump shook hands with European Commission President Ursula von der Leyen on 15% tariffs on most European products. Without the agreement, they would have been 30%. For its part, the bloc will not impose new tariffs on the United States and pledged to buy fuels from it. The terms have yet to be approved by its members.
The following day, Trump discussed tariffs with British Prime Minister Keir Starmer. Although the U.K. enjoys a relatively low overall tariff - at 10% - London is seeking rebates on steel and aluminum, which are taxed at 25%.
Also on Monday, Trump said he was having "very productive discussions" with China. He also highlighted the importance of that agreement, assuring that although the European one was "the biggest," the Chinese one was "very important to us." He also assured that he had been invited to travel there by his counterpart Xi Jinping.
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