President Donald Trump announced the United States will impose a 25% tariff on Indian goods starting Aug. 1, after months of negotiations over a limited trade agreement between the two nations appeared to fall through.

President 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.