US President Donald Trump on Tuesday reiterated his administration’s firm stance on implementing tariffs on imports from several countries, starting August 1. Taking to Truth Social, Trump declared that all tariff-related payments would be 'due and payable' from next month and made it clear that 'no extensions' would be granted.
Trump is also expected to take the final decision on the pending India-US trade deal. According to international media, India has already submitted a final 'decent offer,' which is now under review by the US President. The Indian proposal reportedly includes goods trade valued between $150 billion and $200 billion. It is now up to the US administration to decide whether to accept the deal as it stands or continue negotiations. At this stage, India is not expected to make any further concessions.
Earlier, Donald Trump had indicated that the United States was nearing a trade agreement with India. This possible agreement is consistent with US President Donald Trump's overarching plan to reshape international trade relations and use tariffs to increase American economic clout. Trump informed reporters that the United States has already signed trade agreements with nations like China and the United Kingdom during a private dinner with Israeli President Benjamin Netanyahu on Monday.
He added that India could be the next in line. “As far as I’m concerned, we’re done with sending out letters to various countries telling them how much tariffs they have to pay. Some may adjust a little bit, depending if they have a, you know, cause,” he said.
Meanwhile, Trump has decided to delay the imposition of higher tariffs on imports from 14 countries, including Japan and South Korea. The decision comes just as a 90-day pause on some of the White House’s most stringent import taxes was set to expire this week. However, Trump has repeated his warning that a 25 per cent tariff could still be applied to goods from these nations. He also released letters sent to several world leaders, outlining that the new tariff rates will come into effect starting August 1.
Initially, the increased tariffs were to begin on July 9, but they were temporarily put on hold as US officials continued efforts to reach trade agreements.
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