Today, President Trump has announced that the United States will impose a 25% tariff on goods imported from India starting on Aug. 1.
Trump used Truth Social to announce the tariff, writing: “While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country.”
Trump’s announcement follows several months of negotiations between Indian and American officials on a trade deal.
This week, a report was released indicating that India has overtaken China as the top exporter of smartphones to the United States, following Apple’s tariff-driven manufacturing shift to New Delhi.
In the second quarter, devices manufactured in India made up 44% of smartphone imports to the U.S.
Experts predict that tech companies based in India, such as Apple, won’t be able to absorb a 25% tariff, so companies will likely pass the higher costs onto consumers.
By CEO NA Editorial Staff
