Trade Tensions Escalate: US Imposes 50% Tariff on Indian Goods

Starting today, August 27, the United States has increased tariffs on Indian imports to 50%. This action, driven by the Trump administration, is seen as a response to India’s continued purchase of Russian oil. The U.S. aims to curb Russia’s revenue stream and, thereby, influence the ongoing conflict in Ukraine. The US Department of Homeland Security released a draft notice to initiate this increase. The Indian government may provide assistance to exporters, urging them to find alternative markets. Prime Minister Narendra Modi has responded to the situation, stating that India will not succumb to external pressure, with a focus on self-reliance.