Trump imposes 25% tariff on India plus ‘penalty’ over ties to Russia | Trump tariffs

Donald Trump has introduced the US will impose a 25% tariff on items from India plus an additional “penalty” for the nation shopping for arms and vitality from Russia amid the struggle in Ukraine.Washington has set a 1 August deadline for nations around the globe to achieve agreements on commerce, together with India, amid the US president’s sweeping world tariff struggle.Whereas saying that Delhi was a “good friend,” Trump used his Fact Social platform to criticise India’s commerce insurance policies and mentioned the White Home would impose a 25% tariff “plus a penalty” of an unspecified quantity.He mentioned the US had a “large” commerce deficit with India – when imported items outstrip exports – and linked its “huge” purchases of army gear and vitality from Russia to Vladimir Putin’s struggle in Ukraine.Criticising Indian tariffs utilized to US imports as “far too excessive”, he additionally accused Narendra Modi’s authorities of making use of non-monetary boundaries to commerce that have been among the many most “strenuous and obnoxious” on the planet.Trump wrote: “They’ve all the time purchased a overwhelming majority of their army gear from Russia, and are Russia’s largest purchaser of ENERGY, together with China, at a time when everybody desires Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!“INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!”Figures compiled by Washington present the US commerce in items with India have been an estimated $129.2bn (£97bn) in 2024, making it the US’s tenth largest buying and selling accomplice. The US items commerce deficit was value $45.7bn.Trump’s criticism of India comes as he ramps up stress on Moscow amid rising frustration with Putin’s struggle in Ukraine. Trump had claimed earlier than his inauguration in January that he would be capable of finish the battle inside 24 hours of taking workplace.Dozens of enormous nations around the globe stay locked in negotiations with Washington with solely days to go earlier than Trump’s deadline of 1 August to achieve agreements on commerce. The White Home has threatened to unilaterally apply greater tariffs if offers can’t be reached.skip previous e-newsletter promotionSign as much as Enterprise TodayGet set for the working day – we’ll level you to all of the enterprise information and evaluation you want each morningPrivacy Discover: Newsletters might comprise data about charities, on-line advertisements, and content material funded by exterior events. For extra data see our Privateness Coverage. We use Google reCaptcha to guard our web site and the Google Privateness Coverage and Phrases of Service apply.after e-newsletter promotionWashington and Brussels reached a deal on Sunday to restrict a rise in US tariffs on most EU items to fifteen%, after Trump had threatened to use a border cost of 30%. Offers have additionally been reached with Japan, Vietnam and the UK, whereas an settlement in precept has been reached to increase talks with China.World buyers have been monitoring intently amid hopes that harm to the world financial system might be averted after Trump’s 2 April “liberation day” plan despatched shock waves via worldwide markets.