Trump set 25% tariff for India plus “punishment” for Russian trade

President Donald Trump said on Wednesday that India pay the tariff for 25% start August 1In addition to the “punishment” for what he views as an unfair trade policy, as well as the acquisition of India’s military equipment and energy.

The fare is 25% modestly lower than in the imposed India “Liberation Day“When he announced 26% of the main trading partner.

But it is still at the highest end of what Trump seemed to be considering India. Trump said on Tuesday that he was considering the rate From 20% to 25%.

“Remember that while India is a friend, we have been doing relatively little business with them for many years because their tariffs are too high, among the highest in the world, and they have the most tense and disgusting non-non-paced barriers of any country,” Trump wrote in truth.

“In addition, they have always bought the vast majority of their military equipment in Russia and are the largest energy buyer in Russia, as well as China, at a time when everyone wants Russia to stop killing in Ukraine – all is not good!” He continued.

“That is why India will pay a 25%tariff, as well as a fine for the above, starting in August,” he said.

The White House did not immediately respond to a CNBC request for a comment to what an additional punishment may be.

In the following truth in the social office on Wednesday, Trump said: “We have a massive trade deficit with India !!!”

Trump has repeatedly said the purpose of his extensive tariff regime is to dramatically reduce the US ” Trade deficit with other countries.

Economists have questioned this motiveHowever. They note that imports of goods from countries with less work costs means that Americans can pay lower prices for finished products.

There are also Deep uncertainty As for whether American workers are ready or able to do low-skilled and potentially dangerous jobs needed to produce goods that are usually imported from abroad as clothing, toys and chemicals.

Earlier this year, Trump went so far to announce a global trade deficit in America an emergency The threat of national security in order to demand legal powers to bring unilateral tariffs without a counseling congress.

Trump’s plans to impose an additional “punishment” to India for trade with Russia as it has increased its rhetoric in recent weeks over the president Vladimir Putin Invading Ukraine.

In the escalation Previously this monthThe president threatened to sell secondary tariffs 100%, starting in August, on countries that buy Russian oil and gas if the Kremlin did not reach the ceasefire agreement with Ukraine.

China, India, Brazil and other major US trading partners, which are counting on Russian energy, will be hardly affected by the tariff.