US close to signing deal with India: Trump as he announces new tariff rates

Trump announced new tariff rates for 14 countries, including Japan and South Korea

President Donald Trump on Tuesday (IST) said that the US is close to finalising a deal with India as he announced new tariff rates on 14 nations, Reuters reported. 

 

Responding to a question on tariffs, Trump noted, "We've spoken to everybody. ...it's all done. I told you we'll make some deals, but for the most part, we're going to send a letter. We're going to say, welcome to the United States, if you'd like to participate in the greatest, most successful country ever. I mean, we are doing better than ever... We've never had numbers like this. We've never had an investment like this. We have more than 90... we have much more than 90. But most of those are going to be sent by letter. This is exactly what I said. Now we've made a deal with the United Kingdom. We've made a deal with China. We're close to making a deal with India. Others we met with, and we don't think we're going to be able to make a deal. So we just send them a letter." 

He made these remarks while speaking to reporters at the White House as he hosted Israel's Prime Minister Benjamin Netanyahu. Earlier on Monday, Trump set 25 per cent tariff rates for Japanese and South Korean-made goods, adding that these would come into effect on August 1. Soon after, Trump also announced new tariff rates for 12 other countries. 

 

 

List of countries with new tariff rates: 

 

Myanmar: 40 per cent 

Laos: 40 per cent    

Cambodia: 36 per cent

Thailand: 36 per cent

Serbia: 35 per cent

Bangladesh: 35 per cent

Indonesia: 32 per cent

South Africa: 30 per cent