Trump Announces New Tariffs Amid US-India Trade Tensions
The US announced a sweeping set of tariffs, including a 25 per cent tariff on India, amid escalating trade tensions. President Donald Trump's executive order aims to address imbalances in trade relationships and signal a shift in US economic and national security strategy. The new tariffs will take effect from August 7.
The United States has unveiled a decisive 25 per cent tariff on India as part of a broader list of duties targeting exports from numerous countries worldwide. This move follows an executive order by President Donald Trump entitled 'Further Modifying The Reciprocal Tariff Rates,' which outlines tariffs on nearly 70 nations.
Effective from August 7, the US will impose a 25 per cent "Reciprocal Tariff, Adjusted" on India. Trump highlighted in his executive order that while some partners are aligning with US economic and security commitments, others have fallen short, prompting this tariff decision.
Trump also criticized India for its longstanding trade practices and close economic ties with Russia, saying these factors contribute to a large trade deficit and justification for the new tariffs. The US is negotiating with India to address these issues, aiming to rebalance trade dynamics.
(With inputs from agencies.)
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