Trump's Tariff Tussle: India Faces New Trade Penalties

In a significant move impacting international trade, U.S. President Donald Trump has announced a new 25% tariff on goods imported from India. This decision is a response to India's ongoing procurement of oil from Russia, a move the U.S. views unfavorably.

The executive order was signed by Trump just hours before the initial tariff imposition deadline, effectively increasing the tariffs to a total of 50% on most Indian goods. A small number of goods will be exempt from this hike.

The first round of tariffs will implement on August 7, with the additional levy scheduled to take effect 21 days later, marking an escalating trade tension between the two nations.

(With inputs from agencies.)