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The deadline for India to reach a trade deal with the U.S. is growing near. President Donald Trump backed the August 1 deadline on Truth Social and then ramped up the pressure, reminding India’s leaders that if a deal is not reached, the nation will face a 25 percent tariff rate.
According to the Times of India, President Trump postponed a previous April deadline, but even as the August date approaches, more negotiations are needed. Commerce Secretary Howard Lutnik is quoted as stating that there will be no more extensions on the tariff rate and that a U.S. delegation is scheduled to visit India on August 25.
Trump emphasized the necessity of the August 1 deadline posting, “We have a massive trade deficit with India.”
He went on to post, “Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country.”
He pointed out that India buys most of its military equipment and energy from Russia despite Russia’s refusal to reach a deal to end the War in Ukraine. “India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August First,” Trump declared.