US Still Negotiating With India, Says Trump; Reiterates BRICS One Reason For 25% Tariff Plus Penalty

After announcing 25% tariff, Trump says Washington is still negotiating with New Delhi but reiterates that BRICS is one reason for the move.

Transcript

00:00On the tariffs on India, are you still open to negotiate with India on the tariff front?

00:07Well, we're talking to it now. We'll see what happens.

00:09Again, India was the highest or just about the highest tariff nation in the world.

00:16One of the highest 100 points, 150 points or percentages.

00:23So India was one of the highest in the world.

00:26They had won 175 percent and higher than that.

00:33You know, there's another higher one is Canada.

00:35Canada has they've been charging our farmers 200 percent, 300 percent, 400 percent for years.

00:41And nobody did anything about it.

00:43But India is one of the highest.

00:44So we're going to see. We're negotiating with India right now.

00:47You mentioned today that India, in addition to its 25 percent tariff rate, would pay an additional penalty because of its support of Russia.

00:54What is that additional penalty? And are other countries facing the same threat?

00:59Well, we're negotiating right now. And it's also BRICS.

01:02You know, they have BRICS, which is basically a group of countries that are anti the United States.

01:07And India is a member of that, if you can believe it.

01:10It's an attack on the dollar. And we're not going to let anybody attack the dollar.

01:14So it's partially BRICS and it's partially it's partially the trade.

01:18This trade situation is a deficit. We had a tremendous deficit.

01:23So, as you know, Prime Minister Modi is a friend of mine, but they don't do very much business in terms of business with us.

01:30They sell a lot to us, but we don't buy from them.

01:33You know why? Because the tariff is so high. They have one of the highest tariffs in the world.

01:37Now they're willing to cut it very substantially. But we'll see what happens.

01:40We're talking to India now. We'll see what happens.

01:43It doesn't matter too much whether we have a deal or whether we charge them a certain tariff.

01:47But you'll know at the end of this week.

01:51August 1st is a very big day for this country because money is going to pour into the United States like we've never seen before.

01:58Yes, ma'am.