Trump imposes 25% tariff plus penalty on India citing relations with Russia
US hits 25% tariff on IndiaUS President Donald Trump on Wednesday announced a whopping 25% tariff on India starting August 1, citing oil imports from Russia as a key reason for the decision.What did Trump say?“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,” he said.Trump added, “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 — ALL THINGS NOT GOOD!”He then threw a curveball, writing, “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!”
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| US hits 25% tariff on India |
US President Donald Trump on Wednesday announced a whopping 25% tariff on India starting August 1, citing oil imports from Russia as a key reason for the decision.
What did Trump say?
“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,” he said.
Trump added, “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 — ALL THINGS NOT GOOD!”
He then threw a curveball, writing, “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!”
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