New US Tariffs on Indian Imports Now in Effect: Details and Implications

As of August 27th, the United States is imposing a 50% tariff on various Indian imports, a move initiated by the Trump administration. This comes after the earlier imposition of a 25% tariff. The aim of the tariffs is to indirectly influence Russia’s actions in Ukraine by targeting its oil trade, a major source of income for Moscow. The U.S. contends that India’s continued purchase of Russian oil supports the war effort, a claim India disputes. The implementation of the tariffs is underway, with the U.S. Department of Homeland Security releasing a draft notice. Discussions are ongoing regarding the potential impact on Indian exporters and India’s response.