Trump Proposes 20% to 25% Tariff on India Amid Commerce Negotiations, ETCFO

President Donald Trump stated that India could also be hit with a tariff fee of 20% to 25% however cautioned the ultimate levy had nonetheless not been finalized as the 2 nations negotiate on a commerce deal forward of an Aug. 1 deadline.

“I believe so,” Trump informed reporters Tuesday when requested if that was a doable tariff fee for New Delhi.

“India has been an excellent buddy, however India has charged mainly extra tariffs than virtually some other nation,” Trump stated aboard Air Pressure One as he returned to Washington from a five-day go to to Scotland. “You simply can’t do this.”

The president was commenting forward of an Aug. 1 deadline when a slew of so-called reciprocal tariffs are set to take impact on dozens of buying and selling companions. Trump introduced larger levies in April, earlier than pausing these tariffs at a diminished 10% fee to permit time for negotiations. Regardless of an prolonged deadline, Trump has solely secured a handful of offers.

US Commerce Consultant Jamieson Greer stated Monday that the US wanted extra time for talks with India to gauge the nation’s willingness to open its market extra to American exports.

Reuters reported earlier Tuesday that New Delhi is bracing for larger tariffs seemingly between 20% and 25%.

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