President Trump has announced a 25% tariff on goods imported from India, citing ongoing trade imbalances. This new tariff also includes a 'penalty' for India's trade relations with Russia, though specific details of this penalty remain unclear. The 25% rate is slightly lower than a previously announced 26% tariff rate imposed on India on what Trump referred to as "Liberation Day." The move signals a continued hardline stance on trade policy and further complicates the U.S.'s relationship with key trading partners.