Trump raises India tariffs to 50% over Russian oil purchases
127d ago
Business
CNBC

Former President Donald Trump has announced a 50% tariff on goods from India, citing the country's continued purchase of oil and military equipment from Russia. The move effectively doubles the previously announced 25% tariff and adds an additional penalty, signaling a hardening stance towards India's economic ties with Russia. This decision is likely to escalate trade tensions between the two nations and could have significant implications for Indian exports to the United States. The specific goods targeted by the tariff and the details of the 'penalty' remain unclear.