President Trump: India will pay 25% tariff

Trade Relations - US President Trump stated that the US has done relatively little business with India due to high tariffs and nonmonetary trade barriers [1] - India's purchase of military equipment from Russia and Russian energy was criticized [1] - A 25% tariff and penalty will be imposed on India starting August 1st [2] Negotiation Dynamics - Initial expectations of India being among the first to negotiate have not materialized [2] - The imposition of tariffs is seen as a pressure tactic to bring India back to the negotiation table [2][3] - India had hoped for tariffs no higher than 19% [3]