Catenaa, Wednesday, July 30, 2025- US President Donald Trump said that he will not extend the August 01 deadline for deals with trading partners, while India is set to face a 25% tariff.
“THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!” Trump said on Wednesday via Truth Social.
Moreover, President Trump said that India will be charged a 25% tariff plus penalties for its exports to the US from August 01 onwards.
“ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,” Trump posted on Wednesday.
He said India has always bought a vast majority of their military equipment from Russia, and is Russia’s largest buyer of energy, along with China, thus implementing additional penalties for the tariff.
“India has been a good friend, but India has charged basically more tariffs than almost any other country,” he said in a post early Wednesday
Trump confirmed this week that 15% represents the new tariff “floor” for countries, whose rates he has been dictating to leaders in the absence of trade deals.
Meanwhile, the US and China concluded their latest round of tariff and trade talks in Sweden on Tuesday, with both sides touting progress but without an immediate announcement of a further tariff delay.
Treasury Secretary Scott Bessent said President Trump would make the final call on extending the trade truce between the world’s two largest economies.
This week’s talks were the third round for the countries, which have slowly de-escalated trade tensions since Trump imposed gargantuan tariffs in April, and China reciprocated.
The countries suspended those tariffs for 90 days, a suspension that is set to end on August 12. Bessent said another 90-day extension is possible.
Also, the US and EU are racing to lock in the final details of their major new trade deal before Friday.
