Overall trade in goods between India and the U.S. last year amounted to about $129 billion, the Office of the U.S. Trade Representative, or OTR, found. Top imports from India include apparel, chemicals, machinery and agricultural products.

WASHINGTON D.C. -A 25% tariff on Indian imports, along with an unspecified penalty, is set to go into effect today, August 1. The move, communicated via a social media post by President Donald Trump comes amid U.S. frustration with India’s trade practices and its continued purchase of Russian oil.

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.