Trump announces 25% tariff on India; Fines for using Russian weapons and oil

 

 

Washington: US President Donald Trump has imposed a 25% tariff on India. Fines have also been imposed for using Russian weapons and oil. Trump had earlier said that he would impose more tariffs if a new trade deal with the US was not made before August 1. Trump's new move comes two days before the deadline. Trump has stated that he will impose tariffs at a time when the trade deal between the two countries has not yet been finalized. In a post on his social media platform, Truth Social, Trump criticized India's long-standing trade practices and foreign policies, especially its close relationship with Russia.

"Although India is our friend, we have done relatively little business with them over the years because their tariffs are so high. That is, one of the highest tariffs in the world. And they have more trade barriers than any other country," Trump wrote in the post. Trump said that India will have to pay a 25% tariff and penalties for using Russian weapons and oil from August 1.

Trump also criticized India's continued military and energy partnership with Russia. Trump said that India used to buy most of its military equipment from Russia. Trump pointed out that it is no small feat that India has become Russia's largest energy market, along with China, at a time when everyone wants Russia to end its aggression in Ukraine.