Washington: United States President Donald Trump on Tuesday said that Washington is close to making a trade deal with India.
This comes on the heels of US imposing a 25 per cent tariff on imports from Japan and South Korea beginning August 1.
Trump on Monday began telling trade partners – from powerhouse suppliers like Japan and South Korea to minor players – that sharply higher US tariffs will start August 1, marking a new phase in the trade war he launched earlier this year.
“If for any reason you decide to raise your tariffs, then, whatever the number you choose to raise them by, will be added onto the 25 per cent that we charge,” Trump said in letters, released on his Truth Social platform, to Japan and South Korea.
Trump on Monday sent letters to 14 countries outlining higher import tariffs. However, the implementation was pushed to August 1, providing countries a few more weeks to reach trade deals.
