India will pay a 25 per cent tariff on goods exported to the United States from August 1, Donald Trump decreed on Truth Social, the social media network owned by the US President, on Wednesday. Mr Trump also slapped a penalty on India – an unspecified amount above the 25 per cent – whom he called America’s “friend”, for buying “a vast majority of their military equipment” and oil from Russia. August 1 was the deadline Mr Trump had set for reciprocal tariffs on dozens of countries, including India. Higher levies had been announced in April but were then reduced and paused to allow for talks.
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