India-US trade deal: 'Close to making a deal with India,' says Donald Trump; US President releases tariff letters for countries
Donald Trump
on Tuesday said that the States was "close to making a deal with India" as he released tariff letters to various trading partners, informing them of the reciprocal tariff rates that would be effective from August 1, 2025.
"We are close to making a deal with India. We've made a deal with the United Kingdom. We've made a deal with China," he said.
"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. 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, we're not going to be unfair about it," he added.
Talking about his August 1 deadline, Trump said, "I would say firm but not a 100 per cent firm. If they call up and they say we would like to do something in a different way, we will be open to that."
Trump announced new 25% tariffs on Japan and South Korea via Truth Social, followed by similar tariff letters to several other countries including Bangladesh, Indonesia, and South Africa. He warned that if trade deals aren't finalized soon, US import duties will return to the higher rates set in April.
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