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Trump hits India with extra 25% tariff for buying Russian oil

128d ago
Business
BBC Business
Business strategy
The United States has imposed a 25% additional tariff on Indian goods in response to India's continued purchases of Russian oil. This new tariff raises the total tariff rate on Indian imports to 50%, placing it among the highest tariff rates levied by the US on any nation. The move signals a toughening stance by the US on countries perceived to be undermining efforts to economically isolate Russia following its invasion of Ukraine. The impact on trade relations between the US and India remains to be seen, but analysts predict potential retaliatory measures and adjustments to trade strategies.
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