Workflow
President Trump says he will hike India's tariffs over 'next 24 hours'
CNBC Televisionยท2025-08-05 15:04

Trade Negotiations & Tariffs - President Trump discussed trade negotiations with China and India [1] - The President is considering raising tariff rates on India, potentially "very substantially," due to their purchase of Russian oil [3] - The initial tariff rate mentioned was 25% [3] - Secondary tariffs targeting Russia could affect China and India, potentially reaching as high as 100% [9] - The impact on Apple, given its iPhone production in India for the US market, is uncertain, and exemptions are a key question [8] US-China Trade Deal - The President believes there is potential for a deal with China [4] - A meeting between President Trump and Chinese President Xi Jinping is possible before the end of the year if a deal is reached [4][5] - Chinese experts suggest that President Xi Jinping would likely only agree to a meeting if a deal is already in place [6] Exemptions - Exemptions on tariffs are uncertain, with the White House's stance varying [10] - Brazil's 50% tariffs had sweeping exemptions [10]