Dhaka, Aug. 28 -- The United States has doubled tariffs on many imports from India to 50 percent, as US President Donald Trump followed through on his threat to punish New Delhi for buying discounted Russian oil.
The steep tariffs, which came into force on Wednesday, risk inflicting significant damage on the Indian economy by threatening trade with its largest export market. India exported more than $87bn worth of goods to the US in 2024.
The Indian government, which has criticised the move as "unfair, unjustified and unreasonable", estimates the tariffs will impact more than $48bn worth of exports. Indian officials warn that the new duties could make exports to the US commercially unviable, leading to job losses and slowing growth in t...
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