Trade Tensions Escalate: U.S. Doubles Tariffs on Indian Goods
The U.S. has doubled tariffs on Indian goods to as much as 50%, significantly impacting trade between the two nations. This move threatens small exporters and various industries while raising questions about the U.S.-India strategic partnership amid failed trade negotiations.
On Wednesday, the United States initiated a significant increase in tariffs on goods imported from India, raising them to 50%. This escalation marks a new chapter in trade tensions between the two largest democracies.
The tariffs, initially set at 25% due to India's purchase of Russian oil, now impact goods such as garments, jewelry, and chemicals, threatening thousands of small exporters.
Efforts to avert this outcome failed after five rounds of negotiations, with officials from both nations attributing the breakdown to political misjudgments.
(With inputs from agencies.)
Advertisement
ALSO READ
High-Stakes Trade Negotiations: Li Chenggang Heads to Washington
India-Japan Relations: A Strengthening Strategic Partnership
High Stakes in Washington: China and U.S. Trade Negotiations Continue
President Murmu Meets Fiji PM Rabuka, Strengthens Strategic Partnership
India Stands Ground Amidst U.S. Tariffs in Trade Negotiations
Google News