U.S. President Donald Trump said on the 30th, "From next month, starting on the 1st (local time), I will impose a 25% country-specific tariff (reciprocal tariff) on India."
President Trump noted on social media (SNS) regarding trade negotiations with India that "not everything is good," stating this. Earlier, President Trump emphasized several times that "an agreement is imminent" regarding trade negotiations with India. However, after negotiations faced difficulties over issues such as opening agricultural markets, he changed his stance. This is seen as a measure to pressure India just two days before the reciprocal tariff is imposed on August 1.
President Trump stated, "India has the most stringent non-tariff trade barriers of any country," adding, "We are seeing a tremendous trade deficit with India." He specifically mentioned that India is purchasing military equipment and energy in large quantities from Russia, saying, "(A) penalty will also be imposed on this." President Trump has previously indicated that if Russia does not cease hostilities, he will impose tariff sanctions on Russia and also impose secondary tariffs on countries trading with Russia.
In a separate post, President Trump said regarding the imposition date of the reciprocal tariff (August 1) that it "will not be extended," thereby pressuring the negotiating countries. Korea is among the countries that will be subject to the reciprocal tariff on August 1. Currently, Deputy Prime Minister and Minister of Economy and Finance Kyun-chul Koo is holding last-minute trade negotiations with U.S. Treasury Secretary Scott Bessent at the U.S. Department of Treasury in Washington, D.C. on the 31st.