FX.co ★ Trump Signals 20–25% Tariff on India Amid Ongoing Trade Talks

On Tuesday, President Donald Trump indicated that India could potentially face tariffs ranging between 20-25%, a slight reduction from the 26% rate mentioned in April. However, the final decision remains pending as trade negotiations are ongoing, with the deadline set for August 1. When queried about the likelihood of this rate, Trump stated, "I think so," and added, "India has been a good friend, but they have imposed more tariffs than nearly any other country, which is simply unacceptable." A tariff of 20% or more would be disappointing for India, which had been aiming for more favorable terms than the 19% offered to Indonesia and the Philippines. According to earlier reports by Bloomberg News, both nations are still attempting to negotiate a compromise to reduce the tariff to below 20%. Nonetheless, discussions have been slow, as India resists U.S. pressure to liberalize its agricultural and dairy markets.