Donald Trump sticks to 25% tariff on India, slashes rates on Bangladesh, Pakistan
US President Donald Trump has announced reciprocal tariffs on countries as the August 1 deadline came to an end. The administration has stuck to the 25% tariff on India. However, the "additional penalties", which Trump had threatened to impose on India for doing business with Russia, remains unclear.Pakistan, which announced a deal with the US on Thursday, has received a 19% tariff rate, while Bangladesh's rate, which earlier stood at 35%, has been brought down to 20%. Pakistan was earlier hit with a 29% reciprocal tariff in April. These modifications shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of this order," the White House statement said. This means that the tariffs will take effect on August 7. White House officials told CNBC-TV18 exclusively that this should not be treated as an extension but just more time for the customs departm...