The 25% tariff rate is modestly lower than what he imposed on India on “Liberation Day,” when he announced a 26% rate on the key trading partner.

The president's trade move comes before his Aug. 1 deadline for higher reciprocal tariffs on goods from nearly 180 countries across the world.

Trump also signed an order saying that government now had the systems in place to close the tariff loophole on “de minimis” shipments.

Trump and the dollar are doing something we saw just before the October 1987 stock market crash

P resident 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.

The U.S. will impose a 25% tariff on goods from India, plus an additional import tax because of India’s purchasing of Russian oil.