The Indian government on Wednesday said it has “taken note” of US President Donald Trump’s announcement imposing a 25% tariff plus penalties on India effective August 1 and is closely studying its implications. In a statement, the Ministry of Commerce and Industry emphasized that India remains committed to concluding a fair and mutually beneficial trade...
US President Donald Trump on Wednesday announced that India will face a 25% tariff along with an additional penalty starting August 1, 2025. The decision comes as part of Trump’s efforts to address what he described as India’s high tariffs, trade barriers, and continued purchases of oil and military equipment from Russia amid the Ukraine...
The US administration has confirmed that the August 1 deadline for imposing reciprocal tariffs remains unchanged, ruling out any possibility of an extension. Speaking on Fox News Sunday, US Commerce Secretary Howard Lutnick stated, “No extensions, no more grace periods. August 1, the tariffs are set. They’ll go into place. Customs will start collecting the...