President Donald Trump said on Wednesday that the United States will levy a 25% tariff on Indian goods in addition to an extra import charge due to India’s purchase of Russian oil. Trump said on his Truth Social platform that although India “is our friend,” its tariffs on US goods “are far too high.”
The Republican president further mentioned that India supports Moscow’s conflict in Ukraine by purchasing energy and military hardware from Russia. He thus plans to impose an extra “penalty” beginning on Friday as part of the implementation of his administration’s updated tariffs on several nations. On Wednesday, the Indian government announced that it is researching the effects of Trump’s tariff move.
Over the last few months, India and the US have been negotiating a “fair, balanced, and mutually beneficial” bilateral trade deal, and New Delhi is still dedicated to achieving that goal, the country’s commerce ministry said in a statement.
Following a series of negotiated trade arrangements with the European Union, Japan, the Philippines, and Indonesia, which he said would expand markets for American goods and allow the US to raise import taxes, Trump made his statement. The president views tariff collections as a means to create more employment in domestic factories and help balance the rise in the budget deficit linked to his recent income tax cuts.
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