US President Donald Trump
Credit: Reuters Photo
Washington: US President Donald Trump on Wednesday said his reciprocal tariff deadline for remaining trade partners will not be extended this Friday.
"The August first deadline is the August first deadline - it stands strong, and will not be extended. A big day for America!!!" Trump wrote on his social media platform in all capital letters.
Trump said on Wednesday the United States will impose a 25% tariff on goods imported from India starting on Aug. 1.
He said India, which has the world's fifth largest economy, will also face an unspecified penalty on Aug. 1, but did not elaborate on the amount or what it was for.
"While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote in a Truth Social post.