 "In Graphics | How will Trump's tariffs on India affect US customers?")
US President Donald Trump on Wednesday announced the imposition of 25 per cent tariffs on India along with additional penalties starting August 1. The announcement was made on his social media platform, Truth Social.
“All things not good! India will therefore be paying a tariff of 25 per cent plus penalty for the above, starting on August first,” he wrote on Truth Social.
The Indian government has stated that it has taken note of Trump’s statement and ‘studying the implications’. It further said, “The government will take all steps necessary to secure our national interest.”
The imposition is set to affect Americans, with consumers having to paying higher prices for imported goods. Lesser competition also causes domestic producers to increase prices, contributing to inflation.
Let us take a look at his justifications and impact on US customers.
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