LIVE: Trump Announces 25% Tariff On India, Describes India As Friend But With Barriers | India-US
Donald Trump Hits India With 25% Tariff Plus Penalty For Doing Business With Russia | Tariff News
US President Donald Trump announced a 25% trade tariff on India, set to begin on the 1st of August. The announcement comes after prolonged negotiations between the two countries. In a statement, Trump said, "India will therefore be paying a tariff of 25%." He cited India’s high tariffs, non-monetary trade barriers, and its significant military and energy purchases from Russia as reasons for the penalty. The development is seen as a disappointment for India, which had hoped for a different outcome, especially following the recent signing of an FTA with the UK. There is concern that the tariff could negatively impact the APAC market. While India’s overall export basket to the US, excluding pharmaceuticals, is not extensive, any future tariffs on the pharmaceutical sector could create a major trade deficit for India. #usindia #tradetariff #donaldtrump #itwebvideos #indiaustrade #economicnews #geopolitics #tariff #tradewar #usrussia #indianeconomy #pharma #businessnews #indiatoday #makeamericagreatagain #tradedeficit
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