Trump's Tariff Tactics: India Faces New Penalties Over Russian Imports
US President Donald Trump has announced a 25% tariff and unspecified penalties on Indian imports due to its purchase of Russian crude oil and military equipment. The move is seen as a pressure tactic to secure favorable trade terms, coinciding with India's increased dependency on Russian oil.
- Country:
- India
US President Donald Trump has proposed a significant 25% tariff on goods from India, escalating trade tensions over New Delhi's crude oil and military purchases from Russia.
The executive order, although outlining the tariff implementation on August 7, remains vague on the penalty specifics.
Trump's strategy appears aimed at pressuring India, leveraging recent gains from trade agreements with major allies like Japan, the UK, and the EU.
(With inputs from agencies.)
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