Trump Slaps Extra 25% Tariff on India: Trade War Escalates!
Donald Trump imposes an
additional 25% tariff
on Indian goods, citing India’s continued purchase of Russian crude oil. Total tariff now
50%
.
The Big Move
India and Brazil at a significant disadvantage, both facing the highest rate of 50% in the U.S. market.
Trump's Statement
In a CNBC interview, Trump said: “We settled on 25%, but I’m going to raise that very substantially over the next 24 hours because they’re buying Russian oil.”
How Trump tariffs India, with 50% impact on the economy?
The pharmaceutical items, energy resources, oil, refined fuel, natural gas, coal, and electrical items, like computers, tablets, smartphones, solid state drives, etc., are totally exempted from the list.
Trump tariffs India: Is Trump building external Pressure?
Experts believed this decision by Trump was a strategic move to pressure India`s position regarding US demands in the proposed India-US trade deal.
Trump tariffs India: How India Reacted to 50% tariffs by Trump?
India has previously clarified its stance on these matters, emphasizing that oil procurement decisions are driven by the market conditions and are essential for securing the needs of India`s 1.4 billion population.”