US EditionShashi Tharoor flags ‘90-day break to China’ as Trump slaps additional 25% tariff on India: ‘Not a friendly gesture’
INDIA, AUG 7 – The tariffs double duties on Indian imports to 50%, risking 0.4% GDP growth loss and impacting sectors like textiles and precious stones, industry experts said.
- Thursday , U.S. President Donald Trump imposed 25% additional tariffs, doubling duties to 50% on Indian goods over Russian oil imports.
- The order, declared through an executive order on Wednesday, cited India’s direct or indirect imports of Russian Federation oil as the reason for the measure.
- Market indices reacted, with the NSE Nifty falling 114.15 points to 24,460.05 and the BSE Sensex dropping 335.71 points to 80,208.28, amid geopolitical tensions.
- Indian exporters face a 50% tariff causing a 30-35% competitive loss and threatening about 100,000 textile workers.
- Coming weeks will be crucial as Bank of Baroda’s Sonal Badhan cautions tariffs may shave 0.4 off India’s GDP in FY 26.
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19 Articles
China has reacted sharply after US President Donald Trump ordered an additional 25% tariff on India for purchasing Russian oil. China has strongly criticized the US, calling this move an abuse of trade measures.
China sides with India against Trump's trade war in surprise move, condemns additional tariffs
China has strongly condemned US President Donald Trump's recent decision to impose additional tariffs on imports from India and Brazil, accusing the United States of using trade policy as a political weapon in violation of global norms. In a sharp statement, Chinese Foreign Minister Wang Yi labelled the move a violation of international law and a serious threat to global trade stability. The condemnation comes in response to Trump's announcement…
Sensex, Nifty Decline In Early Trade As US Tariffs On Indian Goods Doubled
Benchmark equity indices Sensex and Nifty declined in early trade on Thursday as US President Donald Trump slapped an additional 25 per cent duty -- doubling it to 50 per cent -- on Indian goods over New Delhi's continued imports of Russian oil.
Shashi Tharoor flags ‘90-day break to China’ as Trump slaps additional 25% tariff on India: ‘Not a friendly gesture’
The US has imposed a 25% tariff on Indian goods, prompting Shashi Tharoor to criticise the action as a double standard. He emphasised the need for India to reassess its trading relationships and consider diversifying its trade partners in light of rising tensions.
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