Donald Trump imposed 50% tariffs on most US imports from India over India's purchases of discounted Russian oil. The tariffs, effective after midnight in Washington, raise duties on many Indian exports and threaten significant damage to the Indian economy and further disruption to global supply chains. Earlier US tariffs of 25% on Indian goods had been applied, and Trump announced plans to double rates citing New Delhi's purchases of Russian oil, which the White House says indirectly funds Russia's war against Ukraine. Some Indian products such as smartphones are exempt. Indian officials warn the measures may push India closer to Russia and China.
US tariffs of 25% on Indian goods went into force earlier this month, but Trump announced plans to double the rate, citing New Delhi's purchases of Russian oil, which the White House has argued is indirectly funding Russia's war against Ukraine. The US president has significantly increased US tariffs on goods from much of the world since reentering the White House in January, straining relations with economies of allies and rivals and fueling fears of higher inflation.
This latest move leaves Indian exporters facing among the highest US duties Trump has slapped on goods from overseas. Brazil is also grappling with 50% tariffs on its exports to the US. Ministers in India argue it has been unjustly singled out for its trade relationship with Russia and officials caution the country will likely work more closely with Moscow and Beijing and drift further from Washington as a result.
The action, confirmed in a notice by the US Homeland Security Department earlier this week, prompted some economists to predict a precipitous fall in trade between the two countries. I don't care what India does with Russia, Trump claimed on Truth Social, his social network, last month. They can take their dead economies down together, for all I care. In India, the mood has been defiant.
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