Dhaka, July 31 -- President Donald Trump said on Wednesday the United States will impose a 25 per cent tariff on goods imported from India starting on August 1.

He said India, which has the world's fifth largest economy, will also face an unspecified penalty on August 1, but did not elaborate on the amount or what it was for.

"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," Trump wrote in a Truth Social post.

"They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY...