July 31, 2025- President Donald Trump said Wednesday that India will pay a tariff of 25% beginning Aug. 1, in addition to a “penalty” for what he views as unfair trade policies and for India’s purchase of military equipment and energy from Russia, according to CNBC.
President Donald Trump also said that he will not extend Friday’s deadline for his “reciprocal” tariffs on dozens of countries to restart. Trump said the Aug. 1 deadline “stands strong, and will not be extended,” in a Truth Social post, confirming what Commerce Secretary Howard Lutnick said days earlier in a Fox News interview, according to Forbes.