Full Weight of #US#Tariffs Slams Into Effect Against #India
As punishment for buying #oil from #Russia, #Trump is doubling the tax on goods imported from India, jeopardizing a relationship decades in the making.
Trump on Wednesday followed through on his threat to impose a 50% tariff on nearly all goods arriving from India, leveling one of his most punitive tariffs at a country with deep ties to the #UnitedStates.
#economy #inflation #recession
https://www.nytimes.com/2025/08/27/business/india-tariffs-trump-russia-oil.html?smid=nytcore-ios-share&referringSource=articleShare
The 50% rate, half of which is punishment for #India buying #oil from #Russia, is expected to damage many Indian exporters that collectively employ millions of people. The move could rupture America’s expanding economic relationship with India, where ⅔ of the largest #US #corporations have #offshore operations. The tariff also undermines the stability of billions of dollars of foreign investment in India’s #StockMarket, the world’s 4th largest.
