Trump's Frustration with India Trade Talks

US President Donald Trump has expressed frustration over the progress of trade deal negotiations with India, announcing a 25% tariff set to take effect on August 1. This decision comes after the two countries failed to reach an interim trade agreement by Trump's deadline.

Additional Penalty for Russia Trade

Trump also revealed plans for an 'additional penalty' targeting India's purchases of oil and arms from Russia, criticizing India for being one of Russia's largest energy buyers amidst global calls for Russia to cease hostilities in Ukraine.

India's Stance and Reaction

India has taken a firm position on protecting its agriculture and dairy sectors, which has become a significant obstacle in the trade talks. The Ministry of Commerce and Industry is currently assessing the potential impacts of the US tariffs, emphasizing that national interests will not be compromised for a trade deal.

Future Negotiations

US officials are scheduled to visit India in late August for further negotiations, as both nations continue to seek a fair and mutually beneficial trade agreement.