India, July 30 -- US President Donald Trump on Wednesday announced that "friend" India will be paying a 25 per cent tariff from August 1. He also noted that New Delhi will have to pay additional penalty due to its oil and military purchase from Russia in the face of the ongoing war in Ukraine.

In a post on Truth Social, Trump noted that despite being friends, India and US have done relatively little business.

"Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," he wrote.

The US President added, "Also, they have always bough...