President Donald Trump stated in a post to Truth Social: “Remember, 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. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE – ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPY:
- SPY ETF News, 7/30/2025
- Stock Market News Today, 7/30/25 – U.S. Stock Futures Edge Higher Ahead of Fed Decision and Big Tech Earnings
- Stock Market News Review: SPY, QQQ Stumble as Trump Mulls China Tariff Extension ahead of Fed Rate Decision
- Trump’s Tariffs Catapult Customs Revenue to Record High
- Trump Slaps Russia with 10-Day Deadline to End War on Ukraine