The U.S. has imposed a 50% tariff on Indian imports, citing India’s continued purchases of Russian oil.
This includes a new 25% levy announced Wednesday, on top of an existing 25% rate set to take effect Thursday.
These are now among the highest duties applied to any U.S. trading partner.
New Delhi called the move “unfair, unjustified, and unreasonable,” stressing that its energy imports are based on market needs and national security.
India’s Ministry of External Affairs accused the U.S. of selective enforcement, pointing out that EU trade with Russia exceeds India’s.
Trump’s executive order directs officials to investigate other countries importing Russian oil and consider penalties.
This signals a broader geopolitical crackdown on nations perceived to be supporting Russia’s economy, directly or indirectly.
Market Reaction:
Despite the tensions, U.S. stocks rose, buoyed by Apple’s $100 billion manufacturing investment.
Chip stocks, however, remain volatile amid Trump’s separate 100% tariff threat on semiconductors.
(source The Washingtonpost)
—Agencies
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