Trump Announces New Tariffs on 14 Countries, Says U.S. Close to Trade Deal with India

Despite slapping fresh tariffs on 14 countries, U.S. President Donald Trump on Tuesday signaled progress toward a long-anticipated trade agreement with India, saying the two nations were “close to making a deal.”

“We made a deal with the United Kingdom, we made a deal with China, we’re close to making a deal with India,” Trump told reporters, while confirming that letters detailing new tariffs had been sent to countries unlikely to reach agreements with Washington.

The announcement came as Trump unveiled a new wave of trade measures targeting nations such as Bangladesh, Thailand, South Korea, Japan, and others — with tariffs set to take effect on August 1.

“Some [countries] we don’t think we’ll be able to make a deal with, so we just send them a letter,” Trump said, clarifying that some adjustments may be made “if they have a cause” but stressing that the U.S. won’t be unfair.

Among the 14 countries hit by tariffs are:

Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, South Africa, South Korea, Thailand, and Tunisia.

The steepest tariffs were imposed on Myanmar and Laos, each facing 40% duties.

India Trade Talks Show Progress

Trump’s remarks on India come shortly after week-long negotiations between U.S. and Indian officials in Washington, raising hopes for tangible progress before the earlier July 9 tariff deadline.

While Trump had previously set a hard deadline, he now plans to sign an executive order delaying that date to August 1, signaling potential flexibility in finalizing the agreement.

“I would say firm, but not 100% firm,” Trump said of the new deadline. “If they call up and say they’d like to do something a different way, we’re going to be open to that.”

India has reportedly shown willingness to compromise, particularly around key agricultural demands. However, concerns remain over market access for U.S. dairy and genetically modified (GM) crops, with Indian officials citing risks to millions of farmers.

According to sources close to the discussions, India had pushed for the withdrawal of all retaliatory tariffs, including a 10% baseline tariff and an additional 16% country-specific duty, as part of the deal.

India Stresses Deal Must Serve National Interest

Indian Commerce Minister Piyush Goyal recently stated that while India is ready to engage in a trade deal with the U.S., it would do so only in the national interest — and not under external pressure or deadlines.

As the August 1 deadline approaches, all eyes will be on whether both sides can bridge remaining gaps and finalize a deal that has eluded them for years.