Trump's Rising Tariffs: A Blow to India-Russia Oil Trade
President Trump has announced a substantial increase in tariffs on India, critiquing its trade relations with Russia, especially in oil and military equipment. This move is tied to allegations that India profits from Russian oil while the Ukraine conflict continues, and a broader strategy to curb non-monetary trade barriers.

In a significant trade development, President Donald Trump announced a considerable hike in tariffs on Indian imports. Labeling India's purchase and resale of Russian oil for profit as unacceptable, Trump accused New Delhi of indirectly supporting Russia's military endeavors, specifically as the Ukraine conflict persists.
Signed into action on August 1, the Executive Order 'Further Modifying The Reciprocal Tariff Rates' introduced raised tariffs for multiple nations, hitting India with a steep 25 percent increase. White House Deputy Chief of Staff Stephen Miller backed this decision, emphasizing the unacceptability of India's continuous oil dealings with Russia.
Despite criticism, India's trajectory as the fastest-growing major economy remains unshaken. However, Trump's assertion of an existing trade deficit with India, compounded by high tariffs and barriers, sets the stage for a potentially strained relationship between the two nations.
(With inputs from agencies.)
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