'Close to making deal with India': Trump as he announces fresh tariffs on 14 countries
PTC News Desk: US President Donald Trump announced that the United States is on the verge of closing the deal with India as part of his efforts to eliminate the trade deficit and assert US leverage through tariffs.
Trump's announcement comes as US imposed fresh tariffs on 14 other countries to address its trade deficit with these nations. The US President further said that while progress has come to terms with key partners, other nations unwilling to comply will face further tariffs.
"Others we met with, and we don't think we're going to be able to make a deal, so we just send them a letter," Trump said. "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," he added. "We’re not going to be unfair about it."
On Monday, Trump expanded tariffs on imports from Japan, South Korea, Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia, Bosnia, Bangladesh, Serbia, Cambodia, and Thailand.
The tariffs imposed will come into effect from August 1. According to the letter he posted on his social media platform Truth Social, South Korea and Japan will each face a 25% tariff. Myanmar and Laos are set to be hit with 40% tariffs, while South Africa will face a 30% tariff. Kazakhstan, Malaysia, and Tunisia will each be subject to 25% tariffs.
Earlier, Trump had issued a warning to countries aligning with what he called the "anti-American policies" of the BRICS alliance -- which includes India. In a post on Truth Social, he stated, "Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter."
- With inputs from agencies
