India could face sweeping new tariffs under a new trade deal, President Donald Trump said Tuesday.
“I think so,” Trump said when asked to confirm reports that India’s tariffs could range between 20% and 25%. “India has been a good friend, but India has charged, basically, more tariffs than almost any other country. You know that, right?”
Speaking to reporters aboard Air Force One, Trump said that Indian Prime Minister Narendra Modi has been a good friend, adding that the country’s tariffs are too high in his view.
However, Trump also said the deal is “not finalized,” leaving the door open for further negotiations. If imposed, the rate would be similar to the 26% tariff Trump rolled out in April on “Liberation Day” for India, which has since been paused.
The United States is working to finalize deals with top trading partners ahead of a Friday deadline for Trump to implement his “Liberation Day” tariffs. Preliminary agreements have been reached with the European Union, the United Kingdom, and Japan, among others, but not India.
Trump tariff letters: What to know about the new trade deals, rates, and ‘Liberation Day’ pause
India has historically implemented high tariffs on trading partners. For example, it agreed to slash import duties on American bourbon earlier this year, but only from 150% to 100%. Trump said things would have to change now that he’s in office.
“Now I’m in charge,” he added, “and you just can’t do that.”
