The President of the United States, Donald Trump, announced the introduction of a new 25 percent tariff on India. This was reported by Zamin.uz.
According to Trump's statement, this tariff will be applied to goods imported from India starting from August 1. Although he referred to India as a friend, he emphasized that the country's trade tariffs and barriers are among the highest in the world.
In Trump's opinion, the trade volume between the US and India has been low because India imposes high taxes and barriers on imports. Additionally, India purchases a significant amount of military equipment from Russia and is one of Russia's main customers for energy resources.
Trump stated that the world wants Russia to stop its military actions in Ukraine, but India and China continue to engage in active trade with Russia. For this reason, Trump announced the introduction of new tariffs and penalties against India.
At the same time, no specific information was provided about other measures. This year, the trade volume between the US and India has reached 190 billion dollars, but the trade deficit amounts to 45.8 billion dollars.
The goal is to increase the trade volume between the two countries to 500 billion dollars, but the new tariffs may negatively impact this plan. In July, Trump indicated that if the war between Moscow and Kyiv does not stop, new tariffs could be imposed on Russia and its partners.
India's Minister of Petroleum, Hardeep Singh Puri, stated that if new sanctions are imposed on Russia, the country has the capability to obtain oil from other sources. According to him, India is capable of purchasing energy resources sufficiently from other countries.
The new tariff rates could usher in a new phase in US-India relations. This may lead to new balances and conflicts in international economic relations.
