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Trump says U.S. will impose 25-pct tariff on imports from India

China

China

China

Trump says U.S. will impose 25-pct tariff on imports from India

2025-07-31 03:14 Last Updated At:05:17

U.S. President Donald Trump said Wednesday that the United States will impose a 25-percent tariff on imports from India, starting on August 1.

In a Truth Social post early Wednesday, Trump said that, despite India being "our friend," the United States has done "relatively little business with them because their tariffs are far too high," adding that India has the "most strenuous and obnoxious non-monetary trade barriers of any country."

He also said that India "has always bought a vast majority of military equipment from Russia, and is Russia's largest buyer of energy."

Therefore, he continued, India will pay a tariff of 25 percent, plus "a penalty for the above," starting on the first day next month.

India's Ministry of Commerce and Industry issued a statement later on Wednesday saying that the Indian government had noted the U.S. president's remark on bilateral trade and is examining its implications.

After the U.S. announced so-called "reciprocal tariffs" on April 2, the two sides have held several rounds of talks, but the negotiations have reached an impasse.

India reportedly took a firm stance on protecting its agriculture and dairy industries.

According to the U.S. Department of Commerce, trade in goods between the two countries was approximately 128.8 billion U.S. dollars in 2024, with India registering a trade surplus of about 45.8 billion U.S. dollars.

Trump says U.S. will impose 25-pct tariff on imports from India

Trump says U.S. will impose 25-pct tariff on imports from India

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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