Trump doubles tariffs on imports from India
From August 27, a 50% tariff on goods imported from India to the United States has come into effect, reports a Kazinform News Agency correspondent.
The decision follows only weeks after U.S. President Donald Trump introduced a new baseline tariff of 25% on Indian products in connection with New Delhi’s purchases of Russian oil.
Earlier this month, New Delhi accused the Trump administration of unfairly applying sanctions against India and indicated it would take reciprocal measures in response to U.S. tariffs.
The duties on India, the world’s fifth-largest economy, are now among the highest imposed by the United States on any country.
According to the Ministry of Commerce, U.S. imports from India totaled $87 billion last year, while American exports to India stood at around $42 billion. With tariffs on Chinese goods already raised during Trump’s first term and earlier this year, U.S. companies had been turning to alternative production sites, including India.
Earlier, it was reported that the European Union and the United States unveiled details of their recently concluded tariff agreement, providing clarity on contested areas including pharmaceuticals, semiconductors, and automobiles.