President Donald Trump has warned that if India doesn’t complete a trade agreement with the US this week, it may be subject to tariffs of up to 25%. On Tuesday, when asked if Delhi will be subject to increased tariffs in the absence of a deal, he responded, “Yeah, I think so,” to reporters. India and a number of other nations have been given until August 1st by the US to either establish a trade agreement or risk higher tariffs.<\/p>\n
Over the past few months, Indian and American officials have been negotiating a trade agreement, but they have fluctuated between being hopeful and cautious about when it will be made public. Trump responded, “We’re going to see,” when asked what he anticipated from a possible agreement with India. Although India has been a good friend, it has essentially raised tariffs more than any other nation.<\/p>\n
“But now I’m in charge, and you just can’t do that,” he said. India’s trade ministry has been contacted by the BBC for a response. Tariffs are levied as levies on items that are imported from other nations. Frequently criticizing India’s high tariffs, the US president has called it a “tariff king” and a “big abuser” of trade relations.<\/p>\n
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