Trump's Tariff Tangle: US Levies New Duties on India

The United States has declared a 25% tariff on Indian exports, marking a significant move as part of a broader tariff imposition affecting about 70 countries. The White House released an extensive list detailing these duties.

President Donald Trump signed an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates,' where he announced new tariff rates that will impact global trade partners. While the deadline for these tariffs was initially set for August 1, they will be enforced starting August 7.

Trump emphasized that while some countries are aligning with the United States on trade and security policies, others have not effectively addressed trade imbalances, prompting these tariffs. The modifications will apply to goods imported for consumption or released from warehouses on or after 12:01 a.m. Eastern Daylight Time, seven days post-order announcement.

(With inputs from agencies.)