US President Donald Trump on Tuesday said that Indian imports could face tariffs as high as 25% if the two countries are unable to finalise a trade agreement soon.
“They are going to pay 25%,” Trump told reporters, according to CNN.
When asked whether India would be charged tariffs between 20% and 25%, Trump replied, “Yeah, I think so. India has been; they’re my friends.”
The United States and India have been discussing a trade deal for months, but no final agreement has been reached. Trump has been pressing for greater access for American goods to the Indian market. He has often made similar demands in other trade negotiations.
US Trade Representative Jamieson Greer said further talks would be needed to move things forward.
“They have expressed strong interest in opening portions of their market,” Greer said in an interview with CNBC on Monday, as reported by CNN. “We, of course, are willing to continue talking to them. But I think we need some more negotiations on that with our Indian friends to see how ambitious they want to be.”
This is a developing story
