Former US President Donald Trump highlighted what he called “historic trade deals,” revealing they have generated significant revenue for the United States. He declared that these agreements, encompassing the United Kingdom, China, Indonesia, Vietnam, the Philippines, Japan, South Korea, and the European Union, have led to foreign nations paying hundreds of billions of dollars directly into the US treasury, amassing trillions of dollars in total.
In a separate but related move, the US Customs and Border Protection (CBP) issued a draft notice proposing additional tariffs on imports from India. This initiative followed Trump’s Executive Order 14329. The draft specified that tariffs on Indian goods would increase to 50 percent, beginning August 27. This came after Trump’s initial announcement on July 30, where he declared a 25 percent tariff on Indian goods, citing concerns over India’s trade barriers and ties with Russia.
Ahead of the 50 percent tariff implementation, Indian Prime Minister Narendra Modi stated that India would fortify its economic strength to counter the pressure.