US EditionIndia Reels From US Tariff Hike Threat
- After the Russian invasion of Ukraine, the US imposed sanctions on Russia, affecting oil imports globally.
- The US imposed a tariff increase on Indian goods from 25% to 50% in response to India's oil imports from Russia, aiming to isolate Russia due to its actions in Ukraine.
- India has become the largest importer of Russian oil, which now makes up 35% of its oil imports, up from only 1%.
- Indian authorities labeled the US tariffs as unjustified, asserting that safeguarding national interest is a priority, despite criticism of the Modi government's diplomatic stance.
48 Articles
48 Articles
Indian Official to Tariff-Saddled South Dakotans: Buy More Agricultural Products from India!
In… I don’t know… irony? desperate optimism?… India sends its consul general Prakash Gupta to South Dakota, a state that gave 63.43% of its 2024 vote to Mr. Tariff, to urge us to buy more Indian stuff: “We know of certain technologies which India can bring to the region, particularly in ag tech,” Prakash Gupta said Tuesday. “We are also a very large, farmer-driven country, so I think ag tech is one area where we can contribute to South Dakota.” …
New Moves in the Trump Tariff Tussle
After the Russian invasion of Ukraine, the US sanctioned Russia to threaten her economically. The US encouraged her allies to stop trading with Russia. Resultantly, many western countries following US sanctions slowed down their imports from Russia. To cope up, Russia decided to provide special discounts to some countries to ensure her economic well-being. India was one of them. With discounted prices, India got a chance to purchase cheap crude …
The new tariff has halted shipments as American buyers are backing out of orders. A leather trader from Kanpur said that when the tariff was 10% in May, we saved the orders by paying half the cost. But now no one can afford such a heavy duty. Our five containers are ready but we don't understand what to do now.
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