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Trump Warns India May Face Tariffs Up to 25% Without Deal
India could face tariffs as high as 25 percent if it does not finalise a trade agreement with the United States this week, President Donald Trump has stated.
When asked about the possibility of higher tariffs on India in the absence of a deal, he responded affirmatively, signalling a firm deadline.
The US has set August 1 as the cutoff for India and several other countries to reach a trade agreement or face increased tariffs.
Negotiations between Indian and American officials have been ongoing for months, with officials expressing varying levels of optimism about the timing of a deal.
Regarding expectations from a potential trade agreement with India, Trump said, “India has been a good friend, but India has charged tariffs higher than almost any other country.”
He added, “But now I’m in charge, and you just can’t do that.”
Tariffs are taxes applied to imported goods. Trump has frequently criticised India for its high tariffs, labelling the country a “tariff king” and a “big abuser” of trade relations.
So far, Trump has not issued a formal letter to India setting a new tariff rate, unlike the letters sent to more than a dozen other trading partners.