United States
Trump Slaps 30% Tariffs On European Union, MexicoWASHINGTON, July 12: US President Donald Trump on Saturday announced he's levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States' biggest trade partners in letters posted to his social media account. In his letter to Mexico's leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a "Narco-Trafficking Playground." "Mexico has been helping me secure the border, BUT, what Mexico has done is not enough," Trump added. Trump in his letter to the European Union said that the US trade deficit was a national security threat. "We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers," Trump wrote in the letter to the EU. "Our relationship has been, unfortunately, far from Reciprocal." Trump is in the midst of an announcement blitz of new tariffs with allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a US economy that he claims has been ripped off by other nations for decades. With the reciprocal tariffs, Trump is effectively blowing up the rules governing world trade. For decades, the United States and most other countries abided by tariff rates set through a series of complex negotiations known as the Uruguay Round. Countries could set their own tariffs, but under the "most favoured nation'' approach, they couldn't charge one country more than they charged another. With Saturday's letters, Trump has now issued tariff conditions on 24 countries and the 27-member European Union. The European Union's chief trade negotiator said earlier this week that a trade deal to avert higher tariffs on European goods imported to the US could be reached "even in the coming days." Maros Sefcovic told EU lawmakers in Strasbourg, France on Wednesday that the EU had been spared the increased tariffs contained in the letters Trump sent on Monday, and that an extension of talks would provide "additional space to reach a satisfactory conclusion." The bloc collectively sells more to the US than any other country. US goods imports from the EU topped $553 billion in 2022, according to the Office of the US Trade Representative. Trump on April 2 proposed a 20% tariff for EU goods and then threatened to raise that to 50% after negotiations did not move as fast as he would have liked. Sefcovic did not mention any tariff figures. The higher tariffs as well as any EU retaliation had been suspended as the two sides negotiate. However the base rate of 10% for most trade partners as well as higher rates of 25% on autos and 50% on steel and aluminum had gone into effect. Trump backs 500% tariff on India's Russian oil trade to pressure PutinWASHINGTON, July 10: US President Donald Trump said he is strongly considering supporting a proposed sanctions bill aimed at pressuring Russian President Vladimir Putin to end the war in Ukraine. The legislation, known as the Sanctioning Russia Act of 2025, includes a provision to impose a 500 per cent tariff on countries like India and China that continue purchasing Russian energy products. What does the Sanctioning Russia Act propose? In a June 30 interview with ABC News, Graham said Trump had encouraged legislators to push the bill forward. “This is a big breakthrough,” he stated, noting that the bill would strengthen Trump’s hand in future negotiations with Putin. Donald Trump can grant limited waivers under the bill Trump's 50% Tariff On Copper, 200% Pharma Warning: How It Impacts IndiaWASHINGTON, July 9: US President Donald Trump has announced new 50 per cent tariffs on copper, after having implemented similar duties on steel and aluminium imports. He also warned that the duties on pharmaceuticals imported by the United States could increase by as much as 200 per cent after a year. The move is significant for New Delhi, as the US is India's largest overseas market for pharmaceuticals and a major exporter of copper and copper products. "Today we're doing copper. I believe the tariff on copper, we're going to make it 50 per cent," Trump told a cabinet meeting Tuesday. The copper levy would broaden a slate of sector-specific actions the Republican has imposed since returning to the White House and sent prices for the metal soaring. Commerce Secretary Howard Lutnick told CNBC shortly afterwards that the rate would likely be implemented at the end of July or on August 1. Trump also said Washington would soon make an announcement on pharmaceuticals, but officials would allow manufacturers time to relocate their operations into the country. "We're going to give people about a year, a year and a half to come in, and after that, they're going to be tariffed. They're going to be tariffed at a very, very high rate, like 200 per cent," he said. In recent months, Trump has ordered probes into imports of copper, pharmaceuticals, lumber, semiconductors and critical minerals that could lead to further levies. Lutnick told CNBC that the studies on pharmaceuticals and semiconductors would be completed by the end of the month, with Trump to set policies thereafter. Trump also reiterated his threat of imposing a 10 per cent tariff on BRICS, saying the bloc was "not a serious grouping". However, he acknowledged that it is challenging the US dollar. "It's alright if you want to challenge the dollar. But they will have to pay the tariffs. I don't think they want that," he said. How These Tariffs Will Impact India India exported $2 billion worth of copper and copper products globally in 2024-25. Of this, exports to US markets amounted to $360 million, or 17 per cent. America is India's third-largest market for copper exports after Saudi Arabia (26 per cent) and China (18 per cent), according to trade data. But copper is a critical mineral and is extensively used across sectors, including energy, manufacturing, and infrastructure. Any decline in US demands following new tariffs is likely to be absorbed by the domestic industry. Where it might hurt India the most is the pharmaceutical sector. The US is India's largest overseas pharma market, with exports rising to $9.8 billion in FY25, up 21 per cent from $8.1 billion the previous year. This accounts for a total of 40 per cent of India's total pharma exports. A 200 per cent levy on the sector could severely impact demand, especially as India's generics industry plays a key role in supplying affordable medicines in the United States. India is in the process of closing a mini-trade deal with the US, and all sectoral tariffs are likely to be covered under it. If the deal is finalised before the August 1 deadline, the new tariffs are likely not to impact Indian markets. 'Close To Making Deal With India': Trump As He Slaps Tariffs On 14 CountriesWASHINGTON, July 8: Even as the US slapped fresh tariffs on several nations, US President Donald Trump on Tuesday said Washington was close to making a trade deal with India. Trade negotiators from Washington and New Delhi are pushing to finalise a tariff-reducing deal, but disagreements over dairy and agriculture sectors are delaying the process. "We've made a deal with the United Kingdom, we've made a deal with China, we've made a deal - we're close to making a deal with India...Others we met with, we don't think we're going to be able to make a deal. So we just send them a letter," he said at the White House. Trump's remarks came after the US unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, including Bangladesh, Thailand, South Korea and Japan, to come into effect starting August 1. "We're sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending if they have a cause, we're not going to be unfair about it," the US President said. Texas Flood Deaths Rise To 109, Over 160 Still MissingHUNT, Texas, July 9: More than 160 people remain unaccounted for after devastating floods in Texas, the state governor said Tuesday, marking a dramatic increase in the number of missing from a tragedy that has so far claimed 109 lives. Four days after flash floods roared through several Texas counties, some in the middle of the night, hopes of finding survivors were fading -- and Governor Greg Abbott warned that the list of those unaccounted for could yet rise. "Just in the Kerr County area alone, there are 161 people who are known to be missing," he told reporters Tuesday as the grim search continued. "There very likely could be more added to that list," he said, adding that the figure was based on people reported as unaccounted for by friends, relatives and neighbors. Kerr County, part of a central Texas region known as "Flash Flood Alley," suffered the most damage, with at least 94 fatalities. That includes at least 27 girls and counsellors who were staying at a youth summer camp on the Guadalupe River when it burst its banks as the Fourth of July holiday began in the early hours of Friday. ‘Dollar is king’: Trump says BRICS including India will face 10% tariffWASHINGTON, July 8: US President Donald Trump on Tuesday warned that BRICS nations, including India, would face a 10 per cent tariff if they challenge the dominance of the US dollar, which he called “king.” Taking aim at the bloc, Trump alleged that BRICS was “set up to hurt us, to degenerate our dollar,” and added that countries seeking to undermine the dollar would have to “pay a big price.” “They will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar... The Dollar is king. We are going to keep it that way. If people want to challenge it, they can. But they will have to pay a big price. I don't think any of them are going to pay that price,” Trump told reporters. Japan, Bangladesh, South Korea: 14 Countries Facing Trump's New TariffsWASHINGTON, July 8: US President Donald Trump reignited his trade war on Monday as he unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on 14 trading partners, with the highest rate of 40 per cent imposed on Myanmar and the Lao People's Democratic Republic. The US leader, however, said he was still open to additional negotiations, indicating that he may be flexible on his new August 1 deadline to reach deals. Trump also said that "for the most part," he was content to simply impose higher tariff rates, even as he indicated that he was continuing negotiations, including talks with India that could soon be wrapped up. "We've made a deal with the United Kingdom, we've made a deal with China, we've made a deal - we're close to making a deal with India...Others we met with, we don't think we're going to be able to make a deal. So we just send them a letter," the Republican said. List Of Countries Trump Sent Letters To Laos- 40 per cent tariffs Trump, however, teased the possibility of additional negotiations and delays, saying the August 1 deadline was "not 100 per cent firm", signalling he was open to continuing to tweak the rates. "Maybe adjust a little bit, depending...We're not going to be unfair," Trump said, indicating he would look favourably on countries continuing to offer additional concessions. The US has reached only two agreements so far, with Britain and Vietnam. Trump also warned that any reprisal steps by trading partners would be met with a like-for-like response. "If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the 25 per cent that we charge," he said in letters, released on his Truth Social platform, to Japan and South Korea. The higher tariffs take effect August 1, and notably will not combine with previously announced sector tariffs such as those on automobiles and steel and aluminium. That means, for instance, that Japanese vehicle tariffs will remain at 25 per cent, rather than the existing 25 per cent auto sector tariff, climbing to 50 per cent with the new reciprocal rate -- as has occurred with some of Trump's tariffs earlier. The rate for South Korea is the same as Trump initially announced, while the rate for Japan is 1 point higher than the one announced on April 2. A week later, he had capped all of the so-called reciprocal tariffs at 10 per cent until July 9. The clock has been ticking for countries to conclude deals with the US after Trump unleashed a global trade war in April that has roiled financial markets and sent policymakers scrambling to protect their economies. Trading partners got another reprieve as Trump signed an executive order on Monday extending the Wednesday deadline for negotiations to August 1. Trump issues letters, says US will impose 25% tariffs on Japan, South KoreaWASHINGTON, July 7: US President Donald Trump on Monday said he would impose a 25 per cent tariff on goods from Japan and South Korea starting on August 1. The latest tariff announcement comes as Trump said he would be posting letters to the leaders of a dozen countries on Monday. The US president announced the decision on his social media platform Truth Social, where he posted copies of letters that he sent to the leaders of each country. India is also likely to get the highly anticipated tariff letter from the US President today. New Delhi and Washington have been locked in detailed negotiations for a bilateral trade agreement. The deal between the two countries is set to be finalised ahead of the July 9 deadline, after which the 26 per cent tariff on India (16 per cent impending and 10 per cent existing) will kick in. Trump's 'Anti-American' Jibe At BRICS And An Extra 10% Tariff WarningWASHINGTON, July 7: President Donald Trump said he would put an additional 10% tariff on any country aligning themselves with "the Anti-American policies of BRICS," injecting further uncertainty into global trade as the US continues to negotiate levies with many trading partners. "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff," Trump said Sunday night in a Truth Social post. "There will be no exceptions to this policy." The comments come as the US prepares to send tariff letters to dozens of countries in the coming days, with the Trump administration's 90-day pause on higher duties set to expire on Wednesday. Trump said in a separate post that the letters would start being delivered from noon Monday, Washington time. BRICS, a grouping of nations that includes Brazil, China, South Africa and India, held a meeting over the weekend, where leaders condemned US and Israeli attacks on Iran and called on Prime Minister Benjamin Netanyahu's government to withdraw troops from the Gaza Strip. They urged a "just and lasting" resolution to conflicts across the Middle East. Chinese Premier Li Qiang and Indian Prime Minister Narendra Modi were among those attending the summit. Trump's post didn't specify which policies he considers "Anti-American," nor did it provide details on when any of those tariffs might be imposed. He has previously threatened to slap 100% levies on BRICS if they ditch the US dollar in bilateral trade. The pushback, in turn, has spurred interest in developing local payment systems and other instruments that can facilitate commerce and investment between the nations. On Sunday, BRICS leaders agreed to continue talks on a cross-border payment system for trade and investment - a project they've been discussing for a decade, though progress has been slow. Chinese Premier Li on Sunday said BRICS countries should take the lead in advancing reforms in global governance and championing the peaceful resolution of international disputes. "Today's world is more turbulent, with unilateralism and protectionism on the rise," Li said. "China is willing to work with BRICS countries to promote global governance in a more just, reasonable, efficient and orderly direction." China's Ministry of Foreign Affairs didn't immediately respond to a request seeking comment on Trump's latest post. Elon Musk launches 'America Party', hints at election plansNEW YORK, July 6: Elon Musk, a former ally of US President Donald Trump, has launched his own America Party aimed at challenging the ‘one-party system,’ which Musk describes as "formed to give you back your freedom," following a strained relationship and public fallout with Trump. Musk's announcement has raised questions about whether he plans to run for president in 2028 or who else might lead the new party. When a user on X asked him, "Midterms or 2028?" Musk replied, "Next year." Musk has said in 2024 that he cannot be president beacuse of his 'African' birth. He also said at the time, “My grandfather was American, but I was born in Africa, so I cannot be president.” While campaigning for the 2025 elections alongside Trump last year, Musk made his political ambitions clear when he said, “ I actually don’t want to be president. I want to build rockets and cars.” According to US constitution's Article II Section 1, Musk is not eligible to contest elections. The Article II, Section 1 of the US Constitution requires presidential candidates to be natural-born citizens, which legally disqualifies Musk from running for the nation’s highest office. Musk posted a poll on US Independence Day in which he asked that whether respondents “want independence from the two-party (some would say uniparty) system" that has dominated US politics for some two centuries. Around 1.2 million responses were received on this survey. “By a factor of 2 to 1, you want a new political party and you shall have it!" he posted on Saturday. Death toll from Texas floods reaches 67, including 21 childrenHUNT, Texas, July 6: The death toll from catastrophic floods in Texas reached at least 67 on Sunday, including 21 children, as the search for girls missing from a summer camp entered a third day. Larry Leitha, the Kerr County Sheriff in Texas Hill Country, the epicenter of the flooding, said the death toll in Kerr County had reached 59, including the 21 children. Leitha said 11 girls and a counselor remained missing from a summer camp near the Guadalupe River, which broke its banks after torrential rain fell in the central Texas area on Friday, the U.S. Independence Day holiday. Trump signs ‘take it or leave it’ tariff letters for 12 countries; offers to be sent out MondayWASHINGTON, July 5: U.S. President Donald Trump said he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he traveled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date has now shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10% base tariff rate and additional amounts for most countries, some ranging as high as 50%. However, all but the 10% base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70% - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably twelve," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the U.S. president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10% rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20% from his previously threatened 46%. Many U.S. products would be allowed to enter Vietnam duty free. A deal expected with India has failed to materialize, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes. Trump signs sweeping tax and spending bill into lawWASHINGTON, July 5: US President Donald Trump has signed his landmark policy bill into law, a day after it was narrowly passed by Congress. The signing event at the White House on Friday afternoon enacts key parts of the Trump agenda including tax cuts, spending boosts for defence and the immigration crackdown. There was a celebratory atmosphere at the White House as Trump signed the bill ahead of Independence Day fireworks and a military picnic attended by the pilots who recently flew into Iran to strike three nuclear sites. Trump told supporters it will unleash economic growth, but he must now convince sceptical Americans as polling suggests many disapprove of parts of the bill. Several members of his own Republican party were opposed because of the impact on rising US debt and Democrats warned the bill would reward the wealthy and punish the poor. The 870-page package includes: extending 2017 tax cuts of Trump's first term Moments before the bill signing, there was a fly-by of a pair B-2 bombers - the same kind of aircraft that participated in the Iran operation - flanked by highly advanced F-35 and F-22 fighter aircraft. In a speech from the White House balcony facing the South Lawn, Trump thanked Republican lawmakers who helped usher the bill to his desk. He touted the tax cuts in the bill, brushing aside criticism of the impact to social programmes such as food assistance and Medicaid. "The largest spending cut, and yet, you won't even notice it," he said of the bill. "The people are happy." Additionally, Trump praised additional resources being given to border and immigration enforcement and an end to taxes on tips, overtime and social security for senior citizens, which he says the bill will fulfil. The celebratory mood follows days of tense negotiations with Republican rebels in Congress and days of cajoling on Capitol Hill, sometimes by the president himself. Texas flash floods: 27, including 9 children, deadAUSTIN, July 5: The death toll from flash floods in Texas has risen to 27 from 24, authorities said on Saturday. Among the victims, nine are children, according to a Reuters report. The rise in fatalities comes as search operations continue for dozens of girls who went missing from the Mystic summer camp. Between 23 and 25 individuals, most of them young girls, are still unaccounted for, the report added. Meanwhile, around 800 people have been evacuated from Kerr County, according to the sheriff’s office. The US National Weather Service said the flash flood emergency has largely ended for Kerr County, the epicenter of the flooding, following thunderstorms that dumped as much as a foot of rain early on Friday. A flood watch, however, remains in effect until 7 p.m. on Saturday from the San Antonio-Austin, Texas, region, with scattered showers expected throughout the day, said Allison Santorelli, a meteorologist with the NWS Weather Prediction Center in College Park, Maryland. Expect Hamas Decision In 24 Hours On 'Final' Peace Proposal: TrumpWASHINGTON, July 4: US President Donald Trump said on Friday it would probably be known in 24 hours whether the Palestinian militant group Hamas has agreed to accept what he has called a "final proposal" for an Israel-Hamas ceasefire in Gaza. The president also said he had spoken to Saudi Arabia about expanding the Abraham Accords, the deal on normalization of ties that his administration negotiated between Israel and some Gulf countries during his first term. Trump said on Tuesday Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties will work to end the war. He was asked on Friday if Hamas had agreed to the latest ceasefire deal framework, and said: "We'll see what happens, we are going to know over the next 24 hours." A source close to Hamas said on Thursday the Islamist group sought guarantees that the new US-backed ceasefire proposal would lead to the end of Israel's war in Gaza. Two Israeli officials said those details were still being worked out. Dozens of Palestinians were killed on Thursday in Israeli strikes, according to Gaza authorities. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, Israeli tallies show. Gaza's health ministry says Israel's subsequent military assault has killed over 56,000 Palestinians. It has also caused a hunger crisis, internally displaced Gaza's entire population and prompted accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations. A previous two month ceasefire ended when Israeli strikes killed more than 400 Palestinians on March 18. Trump earlier this year proposed a US takeover of Gaza, which was condemned globally by rights experts, the UN and Palestinians as a proposal of "ethnic cleansing." Trump made the comments on the Abraham Accords when asked about US media reporting late on Thursday that he had met Saudi Defence Minister Prince Khalid bin Salman at the White House. "It's one of the things we talked about," Trump said. "I think a lot of people are going to be joining the Abraham accords," he added, citing the predicted expansion to the damage faced by Iran from recent US and Israeli strikes. Axios reported that after the meeting with Trump, the Saudi official spoke on the phone with Abdolrahim Mousavi, chief of Iran's General Staff of the Armed Forces. Trump's meeting with the Saudi official came ahead of a visit to Washington next week by Israeli Prime Minister Benjamin Netanyahu. US Imposes New Sanctions Targeting Iran oil Trade, Hezbollah, Treasury Dept SaysWASHINGTON, July 4: The United States imposed sanctions on Thursday against a business network that smuggles Iranian oil disguised as Iraqi oil, as well as sanctions targeting a Hezbollah-controlled financial institution, the Treasury Department said. The network of companies run by Iraqi businessman Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil since at least 2020, the department said in statement. "Treasury will continue to target Tehran's revenue sources and intensify economic pressure to disrupt the regime's access to the financial resources that fuel its destabilizing activities," Treasury Secretary Scott Bessent said. The Treasury Department also sanctioned several vessels that are accused of engaging in the covert delivery of Iranian oil, intensifying pressure on Iran's "shadow fleet," it said. The Treasury Department also issued sanctions against several senior officials and one entity associated with the Hezbollah-controlled financial institution Al-Qard Al-Hassan. The officials, the department said, conducted millions of dollars in transactions that ultimately benefited, but obscured, Hezbollah. Iran's Nuke Programme Set Back By Up To 2 Years, Courtesy US AirstrikesWASHINGTON, July 3: US airstrikes on Iran set back the country's nuclear programme by one to two years, a Pentagon spokesman said, adding to uncertainty around the status of the country's facilities after President Donald Trump said they'd been obliterated. Chief Pentagon spokesman Sean Parnell said allies share the US sentiment about the degradation of Iran's nuclear abilities "and the fact that we have degraded their programme by one to two years - at least the intel assessments inside the department assess that." "And I think their intelligence shares that conclusion," he said. He said the US assessment remains that the facilities struck by the US had been "completely obliterated." "We also believe that the degradation of the facilities at Fordow, Esfahan and Natanz degraded their physical capability of constructing a bomb," he said. Parnell's comments echo those of President Donald Trump, who has repeatedly asserted that the US bombing of key facilities "totally obliterated" Iran's nuclear programme. His administration also has rejected a preliminary assessment from the Defense Intelligence Agency that said the strikes may have set back the programme by just months. There's still little information from the ground as Iran is said to have cut off communication with officials from the International Atomic Energy Agency, the UN's nuclear watchdog. Iranian nuclear safety regulators have stopped taking calls from the IAEA after formally ending inspections last week. The location of Iran's 409-kilogram inventory of near-bomb-grade uranium also remains unknown. Trump ordered the strikes on three Iranian nuclear facilities in June, and then announced a ceasefire between Iran and Israel after 12 days of war. The truce has so far held, but Iran's armed forces chief of staff expressed doubt that it would last. Trump indicated that he might offer Iran a relief from economic sanctions "if they can be peaceful," after earlier saying he'd keep them in place as he lashed out at Supreme Leader Ayatollah Ali Khamenei for claiming victory in the war with Israel. Trump Hints At Much Less Tariffs Deal With IndiaWASHINGTON DC, July 2: US President Donald Trump on Tuesday reaffirmed that India-US will soon strike a trade deal with "much less tariffs", allowing both countries to compete. "I think we are going to have a deal with India. And that is going to be a different kind of a deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs," Donald Trump said. India and the US have been negotiating over a Bilateral Trade Agreement (BTA) before the critical July 9 deadline of the 90-day pause on tariff escalations. Meanwhile, India has adopted a firmer stance on agricultural matters as high-stakes trade negotiations with the United States reach a pivotal moment, government sources said on Monday. The Indian delegation, led by Chief Negotiator Rajesh Agrawal, has extended its stay in Washington, as reported earlier. The two negotiations were scheduled on Thursday and Friday, but have been extended as both nations work urgently to finalise an interim trade agreement before a crucial July 9 deadline. The extended negotiations come as both countries face the looming return of suspended 26% reciprocal tariffs. These punitive measures, imposed initially during the Trump administration on April 2, were temporarily suspended for 90 days but will automatically resume if no agreement is reached. "The failure of these trade discussions would trigger the immediate reimplementation of the 26% tariff structure," warned a senior official. India's hardened position reflects the politically sensitive nature of its agricultural sector. The country's farming landscape is dominated by small-scale subsistence farmers with limited land holdings, making agricultural concessions particularly challenging from both economic and political perspectives. Notably, India has never opened its dairy sector to foreign competition in any previous free trade agreement -- a precedent it appears reluctant to break even under US pressure. The United States is pushing for reduced duties on agricultural products, including apples, tree nuts, and genetically modified crops. Meanwhile, India seeks preferential access for its labour-intensive exports, such as textiles and garments, Gems and jewellery, Leather goods, and agricultural products like shrimp, oilseeds, grapes, and bananas. Beyond the immediate interim agreement, both nations are working toward a comprehensive bilateral trade agreement (BTA) with the first phase targeted for completion by fall 2024. The ultimate goal is ambitious: more than doubling bilateral trade from the current $191 billion to $500 billion by 2030. US to impose 500% tariff on India, China over Russia business ties? Trump gives nod to Senate billWASHINGTON, July 2: US President Donald Trump has given nod to a Senate bill that could impose 500% tariffs on countries like China and India that buy Russian oil and energy products. US senator Lindsey Graham said in an interview with ABC News on Sunday that Trump had told him that the sanctions bill should be brought forward for a vote. Graham is sponsoring the tough new sanctions bill on Russia. Graham called Trump’s decision “a big breakthrough” which he said was part of efforts to bring Russian President Vladimir Putin to the negotiating table on Ukraine and give Trump “a tool” to bring that about. “Big breakthrough here. So what does this bill do? If you’re buying products from Russia and you’re not helping Ukraine, then there’s a 500% tariff on your products coming into the United States. India and China buy 70% of Putin’s oil. They keep his war machine going,” Graham told ABC News. He stressed however that Trump had a waiver and could decide whether or not to sign it into law if and when it passes Congress. “I’ve got 84 co-sponsors for a Russian sanctions bill that is an economic bunker buster against China, India, and Russia for Russia’s brutal invasion of Ukraine. I think that bill’s going to pass,” Graham had said in an earlier interview. India was the second largest buyer of Russian fossil fuels in May 2025, according to the Centre for Research on Energy and Clean Air. It estimated that India purchased fossil fuels worth €4.2 billion from Russia in May, with crude oil amounting to 72% of the total. Asked about Graham’s comments, Kremlin spokesman Dmitry Peskov said on Monday that Russia was aware of the US senator’s stance and had taken note of his statement. “The senator’s views are well known to us, they are well known to the whole world. He belongs to a group of inveterate Russophobes. If it were up to him, these sanctions would have been imposed long ago,” said Peskov. “Would that have helped the (Ukraine) settlement (process)? That is a question that those who initiate such events should ask themselves.” 'You'll Hear From Trump Very Soon': White House On India-US Trade DealWASHINGTON, July 1: White House Press Secretary Karoline Leavitt praised India's role as a strategic ally in the Indo-Pacific region during a press briefing on Monday (US local time). She also highlighted the strong personal relationship between US President Donald Trump and Prime Minister Narendra Modi. Responding to a question about how the US views China's influence in the Indo-Pacific region, Leavitt said, "India remains a very strategic ally in the Asia Pacific and the President has a very good relationship with Prime Minister Modi, and he will continue to have that." The White House spokesperson's remarks on India's importance in the Indo-Pacific came shortly after she addressed another question about a possible trade deal between India and the US. Addressing the media, Leavitt said, "Yes, the President said that last week (that the US and India are very close to a trade deal), and it remains true. I just spoke to our Secretary of Commerce about it. He was in the Oval Office with the President. They are finalising these agreements, and you'll hear from the President and his trade team very soon when it comes to India." The comments come as External Affairs Minister S Jaishankar is currently in the United States to attend the QUAD Foreign Ministers' Meeting. On Monday, he inaugurated an exhibition at the United Nations titled "The Human Cost of Terrorism," which aims to draw global attention to state-sponsored terrorism. The QUAD is a diplomatic partnership between Australia, India, Japan, and the United States. It is committed to supporting an open, stable, and prosperous Indo-Pacific that is inclusive and resilient. The grouping's origin traces back to the joint humanitarian response to the December 2004 Indian Ocean tsunami. Earlier, on June 18, it was confirmed that US President Donald Trump accepted Prime Minister Modi's invitation to attend the upcoming QUAD Summit in New Delhi later this year. Foreign Secretary Vikram Misri had shared details of the phone conversation that took place between the two leaders on the sidelines of the G7 Summit in Canada. "For the next meeting of QUAD, PM Modi invited President Trump to India. While accepting the invitation, President Trump said that he is excited to come to India," Misri said in a video message. Trump Says US Doesn't Plan To Extend Tariff PauseWASHINGTON, June 30: US President Donald Trump has indicated that he is not planning to extend a 90-day pause on tariffs on most nations beyond the July 9 deadline, when the negotiating period he previously set would expire. The Republican said that instead of extending the deadline, his administration would rather send countries a letter, laying out the trade penalties they face, unless they make deals with the United States. The US President had previously talked about sending similar letters in May and earlier this month, though negotiations continued. "I don't think I'll need to because, I could - there's no big deal," Trump said in an interview on Fox News on Sunday when asked if the pause would not be extended. He further clarified his stance on the July 9 deadline, saying, "I'm gonna send letters. That's the end of the trade deal." "I'd rather just send them a letter, a very fair letter, saying 'Congratulations, we're going to allow you to trade in the United States of America. You're gonna pay a 25 per cent tariff, or 20 per cent or 40 or 50 per cent. I would rather do that," he said. Trump further stated that the letters sent out by his administration would explain tariff rates set by the US -- citing the trade deficits with each country and how they treat America -- suggesting that negotiations won't be required in some cases. "Some countries, we don't care. We'll, you know, we'll just send a high number out. But we're going to be sending letters out starting pretty soon. No, we don't have to meet. We understand. We have all the numbers," he said. He also singled out Japan to give a hypothetical example of a letter, saying, “I could send one to Japan. ‘Dear Mr. Japan, here's the story: you're going to pay a 25 per cent tariff on your cars.'” Earlier on Friday, Trump played down the deadline at a White House news conference, saying it would be difficult to work out separate deals with each nation. The Trump administration had set a goal of reaching 90 trade deals in 90 days. Negotiations continue, but "there are 200 countries, you can't talk to all of them," Trump said in the interview. India's trade team has extended its stay in Washington to iron out differences as the two sides look to clinch a deal before a July 9 deadline when higher US tariffs are set to kick in, according to a report. US President Donald Trump last week said "a very big" deal with India was likely soon amid a hardening stance of both nations. Indian Negotiators Extend US Stay As Trade Talks Gather Pace: ReportWASHINGTON, June 29: India's trade team has extended its stay in Washington to iron out differences as the two sides look to clinch a deal before a July 9 deadline when higher US tariffs are set to kick in, people familiar with the matter said. The in-person negotiations were initially supposed to run through June 27 but were extended by a day, raising hopes of an interim trade deal, said the people, who asked not to be identified as the discussions are private. US President Donald Trump last week said "a very big" deal with India was likely soon amid hardening stance of both the nations. Both sides have dug in their heels over a few key issues including Washington's demand that India open its market to genetically modified crops - an ask New Delhi has rejected, citing risks to its farmers. India meanwhile is unwilling to sign a deal that doesn't address both sectoral access and reciprocal tariffs on its exports. An email sent to India's commerce ministry outside business hours wasn't immediately answered. |
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