Trump vented Russia's anger on India! Imposed 25% tariff; also announced penalty

News Topical, Digital Desk : America has announced to impose 25 percent tariff on India. Along with this, President Donald Trump has also announced to impose a fine on India from August 1, but he did not say how much this fine would be and for what it would be imposed.

Trump said that America has suffered a trade loss with India. Apart from this, Trump also said that India also buys more oil and weapons from Russia. Now all is not well between the two countries and hence a 25 percent tariff will be imposed on India. He also said that India also trades with China and charges more tariff than us. Trade with India has also decreased in the past years.

What did the US President say?

"Although India is a friend of ours, we have done relatively little trade with them over the last few years because their tariffs are very high, the highest in the world, and they have some of the most severe and obnoxious non-monetary trade restrictions of any country," Trump wrote in a Truth Social post. 

He further said, "They have always bought a large part of their military equipment from Russia and along with China they are the biggest buyer of energy from Russia, so everyone wants the war between Russia and Ukraine to end and Russia to stop the killings. Everything is not fine."

Donald Trump has given a warning

Earlier, Trump had said that the trade deal with India is yet to be finalised. He had warned of high tariffs before the August 1 deadline to sign the deal. "India has been a good friend, but India has basically imposed higher tariffs, more than almost any other country," Trump told reporters on Air Force One. He said this trend will now end.

What does India have to say?

Meanwhile, Indian officials say that India is planning to resume comprehensive trade talks with the US in mid-August. A US delegation is scheduled to visit India. It is expected that a comprehensive bilateral trade agreement will be reached by October.

"The talks are progressing well," one official said, adding that Trump could issue a tariff order in the worst-case scenario. "But we believe this will be a temporary measure as five rounds of trade talks have taken place so far. An agreement will be reached soon," the official said.

Read More: Trump vented Russia's anger on India! Imposed 25% tariff; also announced penalty