Sen. Tim Scott, R-S.C., joins ‘Mornings with Maria’ to debate the Senate Banking Committee shifting to advance a bipartisan housing invoice permitting residents a neater path to house possession and President Donald Trump’s European Union commerce deal.
President Donald Trump introduced Wednesday that the U.S. would impose a 25% tariff on imports from India, slamming what he referred to as the South Asian nation’s “obnoxious” commerce boundaries and purchases of Russian army gear and vitality whereas the warfare in Ukraine stretches right into a fourth 12 months.
“Keep in mind, whereas India is our buddy, now we have, over time, achieved comparatively little enterprise with them as a result of their Tariffs are far too excessive, among the many highest within the World, and so they have probably the most strenuous and obnoxious non-monetary Commerce Limitations of any Nation,” Trump wrote on social media on Wednesday. “Additionally, they’ve all the time purchased a overwhelming majority of their army gear from Russia, and are Russia’s largest purchaser of ENERGY, together with China, at a time when everybody needs Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!”
In a follow-up submit, Trump added, “WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!”
The U.S. items commerce deficit with India was $45.7 billion in 2024, representing a 5.4% enhance over 2023, in response to the Workplace of the U.S. Commerce Consultant.
TRUMP ISSUES FIRM 10-DAY DEADLINE TO PUTIN TO END WAR
President Donald Trump walks on the South Garden of the White Home after arriving on Marine One in Washington, DC, US, on Tuesday, July 29, 2025. ( Bonnie Money/UPI/Bloomberg through Getty Photographs / Getty Photographs)
In 2024, U.S. whole items commerce with India got here to an estimated $129.2 billion. In line with the consultant’s workplace, U.S. items exports to India have been $41.8 billion final 12 months, up 3.4% from 2023. U.S. items imports from India totaled $87.4 billion in 2024, representing a 4.5% enhance over the earlier 12 months.
Trump stated Aug. 1 could be the “onerous deadline” for unleashing sweeping “Liberation Day” reciprocal tariffs in opposition to nations that don’t minimize a ample cope with the U.S. He initially coined April 2 “Liberation Day” for the sweeping tariffs plan however paused implementation for 90 days to permit negotiations to proceed.
The president, in the meantime, is underneath strain to ship on his marketing campaign promise of ending the Russia-Ukraine warfare. On Tuesday, he issued Russian chief Vladimir Putin a 10-day deadline to cease the combating.
Regardless of India being a member of the “Quad” alliance with the U.S., Japan and Australia to counter Chinese language operations within the area, New Delhi has lengthy relied on the Russians for the nation’s weapons gear. India has just lately expressed curiosity in diversifying its portfolio with extra protection purchases from the U.S., France and Israel.
President Donald Trump and Indian Prime Minister Narendra Modi meet within the Oval Workplace on the White Home on February 13, 2025 in Washington, DC. (Andrew Harnik/Getty Photographs / Getty Photographs)
BOEING DIVISION HANDLING TRUMP FIGHTER JET PROGRAM BRACES FOR STRIKE AFTER UNION REJECTS CONTRACT OFFER
Western sanctions stifled provide chains within the wake of the February 2022 Russia invasion of Ukraine.
The Trump administration has expressed that deepening U.S. ties with India could be strategically vital to countering China.
In February, Trump welcomed Indian Prime Minister Narendra Modi to the White Home as one of many first world leaders to reach to kick-start commerce talks. Modi voiced an bold aim of accelerating bilateral commerce to $500 billion by 2030, because the Trump administration angled to decrease the almost $50 billion U.S. deficit with India by ramping up U.S. vitality exports to the nation.
Vice President JD Vance delivers remarks on the Rajasthan Worldwide Centre on April 22, 2025, in Jaipur, India, targeted on the U.S. and India’s shared priorities. (Kenny Holston – Pool/Getty Photographs / Getty Photographs)
Trump and Modi additionally introduced plans to extend the gross sales of U.S. protection techniques to India over the following 10 years, together with F-35 stealth fighter jets.
The White Home stated in an announcement that the framework of the U.S.-India Main Protection Partnership additionally concerned the 2 leaders pledging “to raise army cooperation throughout all domains — air, land, sea, area, and our on-line world – via enhanced coaching, workouts, and operations, incorporating the most recent applied sciences.” The assertion stated Trump and Modi additionally “dedicated to interrupt new floor to help and maintain the abroad deployments of the U.S. and Indian militaries within the Indo-Pacific, together with enhanced logistics and intelligence sharing.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Vice President JD Vance met with Modi throughout a four-day go to to India in April, and on the time praised the progress reached through the ongoing commerce talks. Vance criticized previous U.S. administrations for locating an inexpensive supply of labor in India and stated elevated cooperation between the 2 international locations would result in a “peaceable and affluent” twenty first century. The choice, Vance warned on the time, could be a “darkish time for all humanity.”
