Overview

• President Trump posted on Truth Social that US imports from India will incur a 25% tariff beginning August 1, plus an additional secondary penalty tied to New Delhi’s purchases of Russian weapons and energy.
• Despite the tariff announcement, both sides remain in talks, with the president indicating that a deal could still be reached by week’s end.
• Top US and Chinese economic officials met in Stockholm for over five hours and secured a provisional extension of their tariff truce toward the August 12 cutoff.
• Taiwan’s president will postpone his planned US stopover until later in the year to focus on domestic typhoon recovery and to avoid complicating sensitive US–China trade discussions.
• Trump’s ‘liberation day’ reciprocal tariff policy has already produced preliminary agreements with the EU, UK, Japan and Vietnam, and markets are watching whether deadlines for India and China force further tariff escalations or trade deals.