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Trump announced a 25% tariff on India, accusing it of trade barriers and energy purchases from Russia.
[Coin World] On July 30 (UTC+8), U.S. President Trump stated on a social platform that while India is our fren, we have had relatively little trade with them over the years due to their high tariffs, which are the highest in the world, and their non-monetary trade barriers are the most obnoxious among all countries. Furthermore, they have been purchasing the vast majority of military equipment from Russia and are Russia's largest energy buyer. At a time when everyone hopes Russia will stop its military actions in Ukraine, India has not performed well in all of this! Therefore, starting from August 1, India will pay a 25% tariff, plus fines for the aforementioned actions.