Confirming rumblings from recent days, President Donald Trump on Wednesday announced 25-percent duties on imports from India—along with a penalty on the country for purchasing military equipment and oil from Russia amid the Ukraine war.
The news comes two days after the Commander in Chief told reporters he planned to confirm India’s new tariff rate—which is one point lower than the rate announced on “Liberation Day” in April—ahead of the Aug. 1 tariff deadline. Trump has repeatedly decried the South Asian nation’s growing trade imbalance with the United States—which amounts to about $45.7 billion—as well as its high import tariffs.
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“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,” the president Truthed Wednesday morning. “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,” he added.
Trump did not provide details about the penalty India will face for procuring goods from Russia.
India’s Ministry of Commerce and Industry responded swiftly to the announcement, saying, “The Government has taken note of a statement by the U.S. President on bilateral trade. The Government is studying its implications.”
“India and the U.S. have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,” the statement read. “The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” or micro, small and medium enterprises.
The ministry said it’s prepared to take all necessary steps to protect India’s national interests, as it has with other trade agreements, including a recent pact with the United Kingdom.
Before Trump’s morning Truth, India was among the largest U.S. trade partners angling for a trade deal with the U.S. ahead of the Aug. 1 tariff-pause expiration.
And in another all-caps missive, the president intimated that others hoping for more time to hash out agreements with the U.S. shouldn’t hold their breath. The administration has said it continues to send letters to countries across the globe this week informing them of new tariff rates, and some may see a reversion back to the rates announced on April 2.
“THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE—IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!,” the president wrote.
