India, July 31 -- The Indian rupee weakened against the U.S. dollar in the Asian session on Thursday, as the United States threatens to impose 25 percent tariffs and penalties on imports from India.
U.S. President Donald Trump has issued a warning of 25 percent tariffs on imports from India, in addition to an undisclosed penalty for purchasing oil and military supplies from Russia.
On Wednesday, Trump announced the tariff rate for India, set to take effect on August 1. In his message, Trump referred to India as a friend but expressed criticism towards the country for procuring defense equipment and energy products from Russia during its ongoing conflict with Ukraine, as well as for imposing the highest tariffs on the United States compare...