30 Jul 2025, 15:32
Tariffs with India could be increased by 25%
- Trump threatens India with a 25% tariff without a trade agreement.
- Negotiations between the USA and India are ongoing, but an agreement has not been signed.
- Both countries are hoping for a compromise by September 1.
US President Donald Trump stated that India could face a 25% tariff if no trade agreement with the USA is reached by September 1. According to him, India, which is considered a "strategic partner," imposes high tariffs on imports, which creates a bottleneck in Washington.
Negotiations between the USA and India have been ongoing for several months, but their results have not yet been finalized. Trump noted that India imposes more tariffs than most other countries, and this needs to change. He emphasized that his administration is focused on reaching an agreement that will open markets for American goods.
Key issues remaining in the negotiations include agriculture and dairy products, as the USA seeks to gain access to the Indian market, which is considered promising. India, in turn, is trying to protect the interests of its farmers.
India's Minister of Commerce Piyush Goyal expressed optimism regarding the conclusion of an agreement at the earliest opportunity, stating that the country is making "fantastic progress" in the negotiations.
Although Trump has not sent India an official letter with new tariff rates, both sides hope to reach a compromise on the established terms.
Tags: USA/Economy