Donald Trump has announced a 25% tariff on goods imported from India, effective August 1, along with an additional unspecified "penalty" due to India's continued purchase of oil from Russia.
Trump conveyed the decision via his Truth Social platform, stating that while India "is our friend," its tariffs on American goods are "far too high". He also stated that India's acquisition of military equipment and energy from Russia has enabled Moscow's war in Ukraine. Furthermore, Trump has criticized India for having "the most strenuous and obnoxious non-monetary trade barriers".
The announcement has sparked concerns about the potential impact on various sectors. This development comes amidst already strained trade relations between the two countries and could further complicate diplomatic ties. The specific details of the "penalty" beyond the 25% tariff remain unclear.
