US President Donald Trump has announced on his social network Truth that Indian products will be the subject of 25% customs duties upon arrival in the United States from August 1, adding that a “penalty” will be added for the purchase of Russian oil.
“We are doing little with them because their customs duties are among the highest in the world and the most tiring and odious non -tariff barriers,” Trump justified in a message.
“We have a massive trade deficit with India!” underlined the tenant of the White House.
But India has also “bought a majority of their military equipment from Russia and are the main Russian oil customers with China, while everyone wants Russia to stop killing in Ukraine”.
A situation which justifies, in the eyes of the American president, “a penalty”, which will be added to the 25%, without more specification, and which will also intervene on August 1.
This new price imposed on Indian products represents a symbolic drop in a percentage point (PP) compared to the 26% initially revealed in early April, on the occasion of the announcement of customs duties presented improperly as being “reciprocal” by Donald Trump.
On Tuesday the American president had already given an index by stressing that customs duties on “Made in India” products could be between 20 and 25%, adding, however, that an agreement was still possible.
New Delhi and Washington have launched negotiations for several months with a view to a trade agreement, without result so far, in particular not wishing to open its market completely to American agricultural products.
The customs duties announced in early April by the American president had been postponed for the first time by 90 days until the beginning of July, before a new postponement until August 1.
This time Donald Trump assured Truth that no other postponement would be granted and that surcharge will actually come into force.
They are currently planned between 10%, the minimum threshold for all products entering the United States and up to 50%, imposed on Brazilian products.
Those from the European Union and Japan should be taxed up to 15%.