US President Donald Trump has ruled out further trade negotiations with India after threatening to slap a combined 50 per cent tariff on Indian goods, escalating tensions between the two countries.
“Not until we get it resolved,” Trump told reporters in the Oval Office when asked if he expected more talks following his announcement of the steep tariffs.
Trump has announced an additional 25% trade tariff on India after warning the country over its oil purchases from Russia, taking the total levy to 50%. The new tariffs will take effect on August 27.
Reacting to the increase, India criticised the move as “unfair, unjustified and unreasonable.” It reiterated that it would take all necessary steps to safeguard its national interest, calling the US decision to raise overall tariffs to 50% “extremely unfortunate.”
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