White House economic adviser Kevin Hassett
Credit: Reuters Photo
Washington: US President Donald Trump has been frustrated with how trade talks with India are progressing and believes his 25 per cent tariff announcement will help the situation, White House economic adviser Kevin Hassett said on Wednesday.
Trump and US Trade Representative Jamieson Greer will have more information "shortly" on the additional penalty Trump announced earlier, Hassett told reporters at the White House.
"I think President Trump is frustrated with the progress we've made with India but feels that a 25 per cent tariff will address and remedy the situation in a way that's good for the American people," Hassett said.
Trump said in a post on Truth Social earlier Wednesday he would impose a 25 per cent tariff on goods imported from India, starting August 1. He added that the world's fifth-largest economy would also face an unspecified penalty, also starting on Friday, but gave no details.