NEW DELHI: US president Donald Trump on Wednesday announced that India will have to pay 25 per cent tariff from August 1. Trump also said that India will have to pay an additional penalty for buying energy and arms from Russia.“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,” Trump said in a post on Truth Social.“Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants 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!” he said.
Meanwhile, Trump’s reciprocal tariffs for countries will be effective August 1, 2025, without any further delays, Commerce Secretary Howard Lutnick has said. Lutnick has said that fresh tariffs would take effect on August 1 for the targeted nations. “So no extensions, no more grace periods. August 1, the tariffs are set. They’ll go into place. Customs will start collecting the money, and off we go,” Lutnick has said.
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