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ISLAMABAD, Jul 30 (APP):President of United State of America (USA), Donald Trump has imposed a 25 per cent tariff on goods imported from India starting August 1, in addition to a penalty for purchasing Russian weapons and oil.
In a post on his social media handle on Wednesday, Donald Trump said, “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. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — all things not good! India will therefore be paying a tariff of 25pc, plus a penalty for the above, starting on August 1st.”