Trump announces 25% tariff on India
Mr. Trump posted about the tariffs on India on social media Wednesday morning, saying, "Remember, while India is our friend, we have, over the years, done relatively little business with them 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 president criticized India for buying energy products from Russia "at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE."
In a separate post, the president said, "WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!
When Mr. Trump met with Indian Prime Minister Narendra Modi at the White House in February, he said the U.S. would be increasing military sales to India and that the two countries had reached an agreement on oil and gas that would make the U.S. India's leading supplier.
Mr. Trump said Monday during a meeting with U.K. Prime Minister Keir Starmer that the most countries that did not reach trade deals with the U.S. by his administration's deadline of Aug. 1 would face a 15% to 20% tariff. Last week, he had mentioned a broader range of 15% to 50%. The European Union reached a trade agreement with the U.S. over the weekend, and Japan, the Philippines, Indonesia and U.K. also have trade deals with the U.S.
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