Topline
The U.S. will reinstate so-called reciprocal tariffs against any country that does not strike a new deal with the U.S. by Friday, President Donald Trump reiterated Wednesday, confirming he wouldn’t offer another extension for the pause on the “Liberation Day” tariffs he announced in April.
President Donald Trump speaks to press near the Rose Garden after returning to the White House the … More
Key Facts
Trump said the Aug. 1 deadline “stands strong, and will not be extended,” in a Truth Social post.
In a subsequent post, Trump said he would implement a 25% tariff against India starting Aug. 1, accusing them of having “the most strenuous and obnoxious non-monetary Trade Barriers of any Country.”
Trump said India would also face a penalty for buying a “vast majority of their military equipment from Russia . . . at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.”
This is a developing story and will be updated.