US May Impose 20-25% Tariff On India, Donald Trump Says: ‘Not Final But…’ | Business News
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The US may impose a 20-25% tariff on India, as stated by Trump. Trade talks between the two countries are ongoing, following a Reuters report on US tariffs.
US President Donald Trump. (AP file photo)
The United States may impose a 20-25 per cent tariff on India. However, the trade talks between the two countries have not concluded yet.
When asked to comment on a report in Reuters that India is preparing to face higher US tariffs likely between 20% and 25%, Trump said, as reported by Bloomberg, “Yes, I think so.”
When the reporter asked if the deal with India had been finalised, the US president said: “No, it’s not.”
Speaking to reporters aboard Air Force One, Trump also called India a “good friend” but said it charges more tariffs than any other country.
Trump said on Monday that most partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. His administration will notify some 200 countries soon of their new “world tariff” rate.
India-US Trade Talks
Union Minister Piyush Goyal has recently said India will secure a good trade agreement with the US by November this year.
Goyal has said negotiations for a trade deal between India and the US are underway at a very fast pace and “in the spirit of mutual cooperation so that we can come out with a win-win trade complementing agreement with the United States.”
“India today negotiates from a position of strength, a position of confidence. It is this very confidence that continuously encourages us to make good free trade agreements… In the future as well, whether it is New Zealand, Oman, the United States, or the 27-nation European Union, India’s agreements will be made with a well-thought-out strategy. Our discussions with the United States are progressing very well. I am fully confident that by the October-November 2025 timeline, we will secure a good agreement, as decided by Prime Minister Modi and US President Trump for a bilateral trade agreement,” he had said.
Meanwhile, US Trade Representative Jamieson Greer told CNBC on Monday that talks with India required more negotiations as Trump was more interested in good deals than quick deals.
India has shown “strong interest in opening portions of its market” though its trade policy had long focused on protecting domestic interests, Greer said.
(with inputs from agencies)
Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19
Saurabh Verma covers general, national and international day-to-day news for News18.com as a Senior Sub-editor. He keenly observes politics. You can follow him on Twitter –twitter.com/saurabhkverma19
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