By Black Star News
Photos: Wikimedia Commons
President Donald Trump will levy 25 percent tariffs against India on imported goods “plus an unspecified penalty” for buying energy and weapons from Russia, if the two countries don’t reach a deal by Aug. 1st.
Trump announced, on Truth Social, that the penalties would start Aug. 1, America’s deadline for a trade deal.
Trump said, “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. 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”
India has been working to reduced its tariffs, and has already done so on motorcycles and Bourbon whiskey.
India has not yet responded to Trump.
Trump has also threatened to impose tariffs of 100 percent on nations that trade with Russia.
Besides India, Brazil and China would be hit hard by these tariffs because of their energy deals with Russia.
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