Donald Trump slaps new tariffs on 14 countries, says US is 'Close to making a deal with India'

US President Donald Trump is back with his tariffs, and he is close to making a deal with India. On Tuesday, the President said the country was close to making a trade deal with India and slapped new tariffs on 14 countries.

Issuing a statement on Tuesday, Trump said, "We made a deal with the United Kingdom, we made a deal with China, and we're close to making a deal with India," adding letters stating fresh tariffs were sent to other countries as well.

According to Trump, he met others, but he thinks they are going to be able to make a deal; hence, he just sent them a letter.

Donald Trump's remarks followed his announcement of new trade measures with countries including Bangladesh, Thailand, South Korea, and Japan, which are expected to take effect on August 1.

The President said, "We're sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending on if they have a cause; we're not going to be unfair about it."



Among the worst-hit countries, Myanmar and Laos are the countries that have been charged with a 40 per cent tariff.

Donald Trump's 'wave of letters' announcing new tariffs targeted countries including Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, Tunisia, South Africa, South Korea, and Thailand.

However, Trump's new remarks on a possible trade deal between the US and India came days after a week-long discussion between negotiators of both countries in Washington. According to earlier reports, the countries could have reached some tangible outcomes before July 9, which is the deadline for imposing the tariffs mentioned earlier by Donald Trump.

• Laos- 40 per cent tariffs
• Myanmar- 40 per cent tariffs
• Thailand- 36 per cent tariffs
• Cambodia - 36 per cent tariffs
• Bangladesh - 35 per cent tariffs
• Serbia - 35 per cent tariffs
• Indonesia - 32 per cent tariffs
• South Africa- 30 per cent tariffs
• Bosnia and Herzegovina- 30 per cent tariffs
• Malaysia- 25 per cent tariffs
• Tunisia- 25 per cent tariffs
• Japan- 25 per cent tariffs
• South Korea- 25 per cent tariffs
• Kazakhstan- 25 per cent tariffs

Union Minister Piyush Goyal stated last week that India is open to signing trade agreements with the US if it serves the country's national interest. However, he stressed that such deals would not be made under the pressure of any imposed deadline.

“I would say firm, but not 100% firm. If they call up and say, "We'd like to do something a different way, we're going to be open to that," Trump said when asked if the deadline for the tariffs was firm.

But India reportedly modified its demand for the protection of its farmers.