US President Donald Trump has announced a 25 per cent tariff on India from Aug 1, amid signs of some stalemate in the ongoing negotiations between the two countries on a bilateral trade deal.
Trump, announcing the tariff, listed India’s high tariffs, its procurement of "vast majority" of military equipment and energy from Russia as well as "obnoxious non-monetary trade barriers". India will be paying a "tariff of 25 per cent plus a penalty" from August 1, he said, adding "we have a massive trade deficit with India".
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