Editor's PiCK
Trump: "25% Tariff Imposed on India... Additional Penalties Also Applied"
Summary
- President Donald Trump announced that a 25% high tariff and additional penalties will be imposed on India.
- President Trump pointed out that India's excessive tariffs and non-tariff trade barriers are the cause of the trade deficit.
- It was reported that the U.S. measure is linked to India's purchase of Russian military equipment and energy.
The United States is imposing a 25% high tariff on India.
President Donald Trump announced on the 30th (local time) via his social media platform Truth Social, "We are seeing a huge trade deficit with India" and "Starting August 1, we will impose a 25% tariff and additional penalties on India."
President Trump emphasized, "India's tariffs are excessively high," and added, "Non-tariff trade barriers are also harsher and more objectionable than in any other country in the world." President Trump continued, "India has purchased the majority of its military equipment from Russia and, along with China, is a major purchaser of Russian energy," stating, "At a time when the world is demanding that Russia stop the massacres it is committing in Ukraine, this is by no means desirable."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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