Dhaka, Aug. 10 -- The United States has increased its tariff on certain Indian imports from 25percent to 50percent President Donald Trump has called this new measure a "secondary" tariff, a term that is not formally used in trade policy but is similar to what is known in sanctions law.
Secondary sanctions are penalties placed on third parties that are seen as supporting actions the sanctioning country opposes. For example, if a US bank, port, shipping company, or other business is prohibited from dealing with the Russian financial system, a secondary sanction could make it illegal for non-US entities to engage in similar transactions as well, reports Bloomberg.
India is affected because the tariff is linked to its purchases of Russian oil...