Click here to explore other NSE Stock Price Today
In a strong move targeting India’s trade policies and ties with Russia, former US President Donald Trump announced the imposition of 25% tariffs plus a penalty on Indian goods starting August 1. The announcement was made via his social media platform, Truth Social, on Wednesday.
Trump acknowledged India as a “friend,” but sharply criticized its high tariff structure and non-monetary trade barriers, which he called “strenuous and obnoxious.”
“Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high—among the highest in the world—and they have the most strenuous and obnoxious non-monetary trade barriers of any country,” Trump posted.
He further stated that India would face consequences for its defense and energy ties with Russia:
“India imports a vast majority of its military equipment and energy needs from Russia. As a result, it will now face 25% tariffs plus a penalty from August 1.”
Also Read: M&M Q1 Results: Net Profit Rises 32% to ₹3,450 Crore, Beats Street Estimates
India has maintained strong defense and energy partnerships with Russia over the years, particularly after the Ukraine conflict. The country continues to import Russian oil at discounted rates and has long-standing defense procurement agreements.
Trump’s new tariff move is being viewed as part of a broader campaign to pressure countries that maintain close economic and military ties with Moscow. This comes amid heightened global scrutiny over the West’s sanctions on Russia.
This announcement could escalate trade tensions between the US and India, especially in sensitive sectors like pharmaceuticals, textiles, IT services, and automobile components. India may assess the impact of these tariffs on its exports and explore possible diplomatic or trade negotiations in response.
The development also underscores how geopolitical alliances and defense procurements are increasingly influencing global trade policies.
Click here to explore other NSE Stock Price Today
IndiGo Crisis Intensifies as Govt Steps In; DGCA Suspends FDTL Rules, Full Restoration Expected in…
Markets Cheer RBI’s Growth-Driven Rate Cut as Sensex Rises 447 Points and Nifty Ends Near…
RBI Cuts Repo Rate and Lifts Growth Forecast, Boosting Sentiment in Rate-Sensitive Stocks In a…
CAMS Shares Appear to Plunge 80% as 1:5 Stock Split Kicks In, but Investors Are…
Major Cloudflare Outage Ripples Across India’s Trading Platforms, Disrupting Market Activity A sudden Cloudflare outage…
IndiGo Shares Bounce Back as DGCA Offers Partial Relief on Pilot Duty Rules Amid Nationwide…
This website uses cookies.