President Trump announced Wednesday that the U.S. would impose tariffs of 25% on imports from India — in addition to an unspecified "penalty" — for what he said were its high tariffs and trade barriers, and for its large purchases of military equipment and energy from Russia.

President Donald Trump announced the United States will impose a 25% tariff on Indian goods starting Aug. 1, after months of negotiations over a limited trade agreement between the two nations appeared to fall through.