'Massive trade deficit with India': Trump imposes 25% tariff on India, plus penalties for arms trade with Russia

US President Donald Trump on Wednesday (July 30) announced to impose a 25 per cent tariff on India, effective from August 1, saying that the US has a massive trade deficit with India. Trump stressed that, along with a 25 per cent tariff, India will also be paying penalties.

Trump took to Truth Social on Wednesday, and while noting that India is a "friend", said that relatively, the US has done "little business with them because their tariffs are far too high."

The US president added that India's tariffs are among the “highest in the world, and they have the most strenuous and obnoxious non-monetary trade barriers of any country.”

Trump continued, as he raised concerns over India buying the majority of its military equipment from Russia, at a time when everyone wants Russia to stop the war in Ukraine.

"Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE," he stressed.

Trump announced to put penalties on India, along with the 25 per cent tariffs, starting on August 1.

"ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!," he posted.

In just a few minutes, Trump shared another post, stating, "WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!."

Earlier on Tuesday, while speaking to reporters, Trump threatened to slap tariffs of up to 25% on Indian imports if Washington and New Delhi fail to finalise a trade deal soon. Although Trump referred to India as a friendly partner, he has repeatedly criticised the country’s trade practices and high import duties, calling the relationship “very tough”.