Due to India’s purchase of Russian oil, President Donald Trump said on Wednesday that the United States will levy a 25% tariff on Indian imports in addition to an extra import tax. According to Trump’s Truth Social platform, India “is our friend,” but its tariffs on US goods are far too high.
The Republican president went on to say that Russia supplies India with energy and military hardware, allowing Moscow to wage war in Ukraine. Therefore, as part of implementing his administration’s updated tariffs on several nations, he plans to impose an additional “penalty” starting on Friday. India’s government announced on Wednesday that it is researching the effects of Trump’s tariff proposal.
According to a statement from India’s Trade Ministry, New Delhi is still dedicated to the goal of reaching a “fair, balanced, and mutually beneficial” bilateral trade deal with the United States, which has been the focus of efforts over the last several months.
Trump made his declaration following a series of trade agreements he secured with the European Union, Japan, the Philippines, and Indonesia, all of which he said would increase markets for American products and allow the US to boost import taxes. According to the president, tariff revenues would help create more employment in domestic factories and balance the increases in the budget deficit caused by his recent income tax cuts.
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