U.S. Imposes 50% Tariff on Indian Exports
Trump announced a steep 50% tariff on Indian exports as a consequence of India's Russian oil imports, worsening trade relations between the U.S. and India. This move threatens India's growth, potentially undermining its position as a regional manufacturing hub. Economists warn that the new tariffs could significantly impact India's economy, with concerns that they might escalate into a trade embargo. While the Indian government condemned the tariffs as unfair, analysts suggest there is a three-week window for negotiations before they take effect, offering a glimmer of hope for resolution.
