North India Statesman
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Trump’s new tariff: The United States will impose 10% mutual tariffs on imports from around 100 countries from August 1, 2025, which officials see as a comprehensive change in global trade policy. US Treasury Secretary Scott Besant, confirming the move, indicated that the baseline tariff would be widely applicable, although it would also apply to countries that are currently interacting with Washington.
What is expansion?
Besant told Bloomberg Television, “We will see how the President wants to deal with the negotiaters, are they happy that they are talking goodly.
Meanwhile, President Trump told reporters that he has signed letters to give details of new tariff levels to 12 countries under the structure ‘Leave it or Quit’. Formal proposals are expected to be sent on Monday. Although he refused to name the countries involved in it, the list included members of India, Japan and European Union. The administration says that tariffs are designed to carry forward more favorable trade conditions for American exports. But the widespread access to the policy, which targets about half of the world, is one of the most aggressive trade restraining in decades.
Will it affect India?
India is particularly facing immediate need. America’s temporary relief from imposing 26% tariffs on Indian goods is scheduled to end on 9 July. If there is no interim trade agreement until then, Indian exports may impose high tariffs from August 1. The conversation has intensified in recent weeks. After a long discussion, the Indian negotiaters returned from Washington, but no agreement could be reached.
Main issue: The US pressure on India to open its agriculture and dairy areas for genetically modified imports. India wants more access to its labor-dominated exports such as textiles, leather and gems. The US has so far refused to provide steel tariff relief to any country including India.
