Trump announces a substantial increase in tariffs on India, with the latter's exports to the US reaching $87 billion last year.

Zhitong Financial APP learned that US President Trump announced on the social platform Truth Social on Monday that he will "significantly" increase tariffs on imported goods from India. This decision is part of his new round of trade policy adjustments, aiming to impose higher import tax rates on multiple countries. According to the policy already announced, Indian exports to the US will face a 25% tariff starting from August 7th, and Trump stated that this tariff rate will be further increased, with the specific amount yet to be announced.