Trump says India could face 25% tariffs

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President Donald Trump said the U.S. may charge a 25% tariff on imports from India as an Aug. 1 negotiation deadline nears. 

Trump hinted at the potential rate while talking with members of the press on Air Force One Tuesday. When asked by a reporter if the rate for imports from India would be between 20% and 25%, referencing a Reuters report, Trump said: “Yeah, I think so.”

However, Trump went on to say that the deal implementing the new tariff rate had not been finalized. 

“We’re going to see,” Trump said. 

Trump’s comments come days before his country-specific tariffs are slated to go back into effect on Aug. 1. 

Earlier this month, Trump shared more than 20 letters detailing the planned tariff rate for imports of several countries, including South Korea, Bangladesh and Thailand. The levies ranged from 20% to 50%. 

Several countries have since reached some level of agreement with the U.S. in relation to tariffs and other trade policies, including the EU, Japan and Indonesia. The U.S. and India have yet to reach such an agreement. 

Trump said in a press briefing Sunday that the U.S. would send letters to countries this week confirming or clarifying the tariff rate their imports will face Aug. 1. India was not one of the countries included in the previous letters shared by Trump. 

Imports from India were subject to a 26% tariff under Trump’s original country-specific duties announced in April. Those levies have been paused since April 9 in favor of a 10% baseline tariff. 

The U.S. imported roughly $87 billion worth of goods from India last year, while exporting about $42 billion, accounting for 2.4% of U.S. trade, according to U.S. International Trade Commission data.