Latest Update:
In a significant escalation of trade friction, U.S. President Donald Trump has issued an executive order doubling tariffs on Indian imports to 50%. The decision stems from India’s ongoing purchases of Russian crude oil, which Washington claims undermines U.S. sanctions and foreign policy objectives.
Details:
The move imposes an additional 25% ad valorem duty on top of the existing 25% tariff, with implementation scheduled for 21 days from the order's signing. The announcement followed Trump’s warning during a CNBC interview that the U.S. would take tougher measures against India’s energy dealings with Russia.
Indian Response:
India has strongly condemned the hike, calling it an “unjustified and discriminatory” action that unfairly targets its sovereign energy choices. Officials are expected to raise the issue through diplomatic channels and may consider retaliatory measures.