US President Donald Trump has announced a 25% tariff on all Indian goods, effective August 1st, citing India’s high tariffs. An additional penalty was also announced over India’s purchase of weapons and energy from Russia. This comes as the US also imposed sanctions on seven Indian companies for trading with Iran. Following the tariff announcement, Trump criticised the economies of India and Russia, stating, "they can put down their dead economies together." In response to these developments, which have caused uncertainty among exporters, the Indian government is preparing a formal statement. Commerce Minister Piyush Goyal is scheduled to address both the Lok Sabha and the Rajya Sabha to outline the government’s position and the next steps in navigating the trade dispute and its economic implications. #tradewar #ustariffs #indiausrelations #itwebvideos #donaldtrump #indianeconomy #piyushgoyal #parliament #foreignpolicy #makeinindia #geopolitics #economicnews #india #iransanctions #russia #indiatoday
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