{"id":1261,"date":"2025-07-30T13:02:19","date_gmt":"2025-07-30T13:02:19","guid":{"rendered":"http:\/\/hamanship.com\/?p=1261"},"modified":"2025-08-04T15:41:17","modified_gmt":"2025-08-04T15:41:17","slug":"trump-announces-25-tariff-on-india-and-unspecified-penalties-for-buying-russian-oil","status":"publish","type":"post","link":"http:\/\/hamanship.com\/index.php\/2025\/07\/30\/trump-announces-25-tariff-on-india-and-unspecified-penalties-for-buying-russian-oil\/","title":{"rendered":"Trump announces 25% tariff on India and unspecified penalties for buying Russian oil"},"content":{"rendered":"<p><strong>By JOSH BOAK and RAJESH ROY, Associated Press<\/strong><\/p>\n<p>WASHINGTON (AP) \u2014 The United States will impose a 25% tariff on goods from India, plus an additional import tax because of India\u2019s purchasing of\u00a0<a href=\"https:\/\/apnews.com\/article\/russia-ukraine-politics-business-china-middle-east-b6a90423ee7e2245e3eafc713083896f\">Russian oil<\/a>, President Donald Trump said Wednesday.<\/p>\n<aside class=\"related left\">\n<h2 class=\"widget-title\" data-curated-ids=\"\" data-relation-type=\"automatic-primary-section\">Related Articles<\/h2>\n<ul>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/08\/01\/its-trumps-economy-now-the-latest-financial-numbers-offer-some-warning-signs\/\" title=\"It\u2019s Trump\u2019s economy now. The latest financial numbers offer some warning signs\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tIt\u2019s Trump\u2019s economy now. The latest financial numbers offer some warning signs\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/08\/01\/trump-jobs-data\/\" title=\"Trump removes official overseeing jobs data after dismal employment report\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tTrump removes official overseeing jobs data after dismal employment report\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/08\/01\/trump-contraceptives-destruction\/\" title=\"Trump administration weighs fate of $9M stockpile of contraceptives feared earmarked for destruction\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tTrump administration weighs fate of $9M stockpile of contraceptives feared earmarked for destruction\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/08\/01\/fbi-kash-patel-china-reaction\/\" title=\"FBI director says a new office in New Zealand will counter China\u2019s sway, provoking Beijing\u2019s ire\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tFBI director says a new office in New Zealand will counter China\u2019s sway, provoking Beijing\u2019s ire\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/08\/01\/trump-federal-reserve-board-powell\/\" title=\"Trump calls on the Federal Reserve board to take full control of the central bank from Powell\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tTrump calls on the Federal Reserve board to take full control of the central bank from Powell\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<\/ul>\n<\/aside>\n<p>India \u201cis our friend,\u201d Trump said on his Truth Social platform, but its tariffs on U.S. products \u201care far too high.\u201d<\/p>\n<p><a href=\"https:\/\/apnews.com\/article\/trump-tariffs-europe-eu-trade-win-b702e8a29505f700a7462078d4d4535d\">The Republican president<\/a>\u00a0added India buys military equipment and oil from Russia, enabling Moscow&#8217;s war in Ukraine. As a result, he intends to charge an additional \u201cpenalty\u201d starting on Friday as part of the launch of his administration\u2019s\u00a0<a href=\"https:\/\/apnews.com\/article\/trump-tariffs-countries-letters-166230b4fa2be33ece1825322b34ff6a\">revised tariffs on multiple countries<\/a>.<\/p>\n<p>Trump told reporters on Wednesday the two countries were still in the middle of negotiations on trade despite the tariffs slated to begin in a few days.<\/p>\n<p>\u201cWe\u2019re talking to India now,&#8221; the president said. &#8220;We\u2019ll see what happens.\u201d<\/p>\n<p>The Indian government said Wednesday it&#8217;s studying the implications of Trump&#8217;s tariffs announcement.<\/p>\n<p>India and the U.S. have been engaged in negotiations on concluding a \u201cfair, balanced and mutually beneficial\u201d bilateral trade agreement over the last few months, and New Delhi remains committed to that objective, India&#8217;s Trade Ministry said in a statement.<\/p>\n<p>Trump on Wednesday signed separate orders to\u00a0<a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/adjusting-imports-of-copper-into-the-united-states\/\">tax imports of copper<\/a>\u00a0at 50% and justify his\u00a0<a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/addressing-threats-to-the-us\/\">50% tariffs on Brazil<\/a>\u00a0due to their criminal prosecution of former President Jair Bolsonaro and treatment of U.S. social media companies.<\/p>\n<h4 class=\"mb-0 pb-2 ap-font-bold\">Trump&#8217;s view on tariffs<\/h4>\n<p>Trump&#8217;s announcement comes after\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=mq0et08kZAY\">a slew of negotiated trade frameworks<\/a>\u00a0with the European Union, Japan, the Philippines and Indonesia \u2014 all of which he said would open markets for American goods while enabling the U.S. to raise tax rates on imports. The president views tariff revenues as a way to help offset the budget deficit increases tied to his recent\u00a0<a href=\"https:\/\/apnews.com\/article\/what-is-republican-trump-tax-bill-f65be44e1050431a601320197322551b\">income tax cuts<\/a>\u00a0and generate more domestic factory jobs.<\/p>\n<p>While Trump has effectively wielded tariffs as a cudgel to reset\u00a0<a href=\"https:\/\/apnews.com\/article\/trump-tariffs-deadline-delay-d8ffef07d944dc1d460b472e4ffd2f57\">the terms of trade<\/a>, the economic impact is uncertain as most economists expect a slowdown in U.S. growth and greater inflationary pressures as some of the costs of the taxes are passed along to domestic businesses and consumers.<\/p>\n<p>There&#8217;s also the possibility of more tariffs coming on trade partners with Russia as well as on pharmaceutical drugs and computer chips.<\/p>\n<p>Kevin Hassett, director of the White House National Economic Council, said Trump and U.S. Trade Representative Jamieson Greer would announce the Russia-related tariff rates on India at a later date.<\/p>\n<h4 class=\"mb-0 pb-2 ap-font-bold\">Tariffs face European pushback<\/h4>\n<p>Trump&#8217;s approach of putting a 15% tariff on America&#8217;s long-standing allies in the EU is also generating pushback, possibly causing European partners as well as Canada to seek alternatives to U.S. leadership on the world stage.<\/p>\n<p>French President Emmanuel Macron said Wednesday in the aftermath of the trade framework that Europe \u201cdoes not see itself sufficiently\u201d as a global power, saying in a cabinet meeting that negotiations with the U.S. will continue as the agreement gets formalized.<\/p>\n<p>\u201cTo be free, you have to be feared,\u201d Macron said. \u201cWe have not been feared enough. There is a greater urgency than ever to accelerate the European agenda for sovereignty and competitiveness.\u201d<\/p>\n<figure id=\"attachment_7231769\" class=\"wp-caption alignnone size-article_inline\"><img decoding=\"async\" class=\" lazyautosizes lazyload\" src=\"http:\/\/hamanship.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg\" alt=\"President Donald Trump, right, speaks with India&#039;s Prime Minister Narendra Modi\" width=\"1024\" data-sizes=\"auto\" data-src=\"http:\/\/hamanship.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg\" data-attachment-id=\"7231769\" data-srcset=\"http:\/\/hamanship.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg 620w,https:\/\/www.denverpost.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg?fit=780%2C9999px&amp;ssl=1 780w,https:\/\/www.denverpost.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg?fit=810%2C9999px&amp;ssl=1 810w,https:\/\/www.denverpost.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg?fit=1280%2C9999px&amp;ssl=1 1280w,https:\/\/www.denverpost.com\/wp-content\/uploads\/2025\/07\/AP25211470642724.jpg?fit=1860%2C9999px&amp;ssl=1 1860w\" \/><figcaption class=\"wp-caption-text\">FILE &#8211; President Donald Trump, right, speaks with India&#8217;s Prime Minister Narendra Modi during a news conference in the East Room of the White House, Feb. 13, 2025, in Washington. (AP Photo\/Ben Curtis, File)<\/figcaption><\/figure>\n<h4 class=\"mb-0 pb-2 ap-font-bold\">Seeking a deeper partnership with India<\/h4>\n<p>Washington has long sought to develop a deeper partnership with New Delhi, which is seen as a bulwark against China.<\/p>\n<p>Indian Prime Minister Narendra Modi has established a good working relationship with Trump, and the two leaders are likely to further boost cooperation between their countries. When Trump in February\u00a0<a href=\"https:\/\/apnews.com\/article\/india-us-modi-trump-16ee5c65b972f5ae16acb413313d36b0\">met with Modi<\/a>, the U.S. president said that India would start buying American oil and natural gas.<\/p>\n<p>The new tariffs on India could complicate its goal of doubling bilateral trade with the U.S. to $500 billion by 2030. The two countries have had five rounds of negotiations for a bilateral trade agreement. While U.S. has been seeking greater market access and zero tariff on almost all its exports, India has expressed reservations on throwing open sectors such as agriculture and dairy, which employ a bulk of the country\u2019s population for livelihood, Indian officials said.<\/p>\n<p>The Census Bureau reported that the U.S. ran a $45.8 billion trade imbalance in goods with India last year, meaning it imported more than it exported.<\/p>\n<p>At a population exceeding 1.4 billion people, India is the world\u2019s largest country and a possible geopolitical counterbalance to China. India and Russia have\u00a0<a href=\"https:\/\/apnews.com\/article\/europe-business-india-new-delhi-global-trade-5a3c6918853047a42ac4be1d6062128a\">close relations<\/a>, and New Delhi has not supported Western sanctions on Moscow over its war in Ukraine.<\/p>\n<p>The new tariffs could put India at a disadvantage in the U.S. market relative to Vietnam, Bangladesh and, possibly, China, said Ajay Sahai, director general of the Federation of Indian Export Organisations.<\/p>\n<p>\u201cWe are back to square one as Trump hasn\u2019t spelled out what the penalties would be in addition to the tariff,\u201d Sahai said. \u201cThe demand for Indian goods is bound to be hit.\u201d<\/p>\n<p><em>Roy reported from New Delhi. Associated Press writers Samuel Petrequin in Paris and Darlene Superville contributed to this report.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By JOSH BOAK and RAJESH ROY, Associated Press WASHINGTON (AP) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/posts\/1261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":2,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"predecessor-version":[{"id":1264,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/posts\/1261\/revisions\/1264"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/media\/1263"}],"wp:attachment":[{"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hamanship.com\/index.php\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}