WASHINGTON: The United States will introduce 25% tariffs on imports from India since August 1, President Donald Trump said on the Truth So...
WASHINGTON: The United States will introduce 25% tariffs on imports from India since August 1, President Donald Trump said on the Truth Social.
Despite friendly relations between the two countries, the US has done "relatively little business" with India "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," the US leader said.
Trump also noted that India "always bought a vast majority of their military equipment from Russia" and is the largest buyer of Russian energy resources along with China.
"India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August first,"he added.
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