Another important news in the world economy — US President Donald Trump announced the introduction of new and harsh tariffs against India. In a statement made on the Truth Social platform, he said that starting from August 1, a 25% export tariff would be applied to goods imported from India.
In his speech, Trump called India a "friend," but emphasized that the tariffs and trade barriers for goods in this country are among the highest in the world. According to him, trade turnover between the US and India has remained low for many years because India imposes large restrictions and taxes on imports.
"Although India is our friend, the country has set the highest tariffs among all states. Also, there are various difficult and unpleasant non-monetary trade barriers," Trump wrote on his page.
According to Trump, most of India's military equipment is purchased from Russia, and together with China, India is one of the largest buyers of Russian energy carriers. "The whole world wants Russia to stop military operations in Ukraine, but India and China still actively trade with Russia," he said.
For this reason, Trump announced that a 25% export tariff and penalties would be applied to India starting from August 1. It should be noted that he did not provide specific information about any other measures besides this tariff.
This year, the volume of trade between the US and India reached $190 billion, and the trade deficit amounted to $45.8 billion. The goal is to increase mutual trade to $500 billion. However, the new tariffs may seriously affect these plans.
In mid-July, Trump threatened that if Moscow and Kyiv did not reach an agreement to stop the war, the US would impose new tariffs against Russia and its trade partners. Later, he reduced the deadline to 10 days, but said he was not sure whether these measures would affect Russia.
India's Energy Minister Hardeep Singh Puri, for his part, stated that if secondary sanctions are imposed on Russian energy, India will be able to meet its oil needs from alternative sources. According to him, India has enough alternatives and can solve any problems related to Russian imports through supplies from other countries.
The new trade tariffs may open a new chapter in US–India relations. This, in turn, may lead to new balance and contradictions in international economic relations.
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