Trump’s 25 per cent tariff on India comes into effect today

Washington, Aug 1 (SocialNews.XYZ) The 25 per cent tariff on Indian imports announced by US President Donald Trump officially comes into effect, starting Friday.

The tariff, which also includes an unspecified penalty, was revealed in a post on Trump’s social media platform, Truth Social, on Thursday.

Trump justified the tariff by accusing India of maintaining excessively high trade barriers and continuing its military and energy ties with Russia, especially amid the ongoing war 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. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!" Trump wrote in his announcement.

He also criticised India for having what he described as “the most strenuous and obnoxious non-monetary trade barriers” in the world.

"Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high," Trump said. He further claimed, "India’s tariffs are among the highest in the world."

Trump’s statement also touched upon the growing US trade deficit with India, and specifically called out India's continued purchases of Russian weapons and energy supplies.

"At a time when everyone wants Russia to stop the killing in Ukraine, these things are not good," he stated. "India has always bought the majority of its military supplies from Russia and is one of the largest buyers of Russian energy, along with China."

Notably, the 25 per cent tariff will not yet apply to smartphone exports from India. These items are currently exempt under Section 232 of the US trade law.

A review meeting regarding this exemption is scheduled to take place in two weeks, after which a decision on smartphone tariffs will be made.

Source: IANS