『US Slaps 50 Percent Tariffs on Indian Exports Amid Escalating Trade Tensions and Russia Oil Purchases』のカバーアート

US Slaps 50 Percent Tariffs on Indian Exports Amid Escalating Trade Tensions and Russia Oil Purchases

US Slaps 50 Percent Tariffs on Indian Exports Amid Escalating Trade Tensions and Russia Oil Purchases

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 US tariffs on Indian exports have reached an unprecedented 50 percent, with the rate doubling at the end of August. This move comes directly from President Donald Trump, who announced the new levies as both a reciprocal trade action and a penalty linked to India’s continued purchases of oil and military equipment from Russia. According to Bloomberg, Trump claimed India recently offered to cut its tariffs on US goods to zero, but said, “It’s getting late. They should have done so years ago.” Trump stated that the economic relationship has been “a totally one-sided disaster for many decades,” arguing that India’s high tariffs have long shut American businesses out of the Indian market.

Business Today notes that the new 50 percent tariff applies to a wide range of Indian exports, including textiles, gems and jewelry, footwear, chemicals, machinery, leather goods, and shrimp. However, sectors such as pharmaceuticals and electronics have so far been spared from these steep duties. Analysts forecast India could lose between $55 to $60 billion in export revenue, which would likely result in significant job losses and a projected 1 percent GDP hit for India over the next year. This drastic change could push Indian exports to the US down from approximately $87 billion in 2024 to about $50 billion by 2026.

Trade relations have grown especially tense following comments from US Treasury Secretary Scott Bessent, who flagged the lack of progress on a new trade deal despite an early start in April. Trump’s administration attributes the tariff escalation not only to slow trade negotiations but also to India's expanding oil and defense purchases from Russia—a factor Trump repeatedly highlighted in recent posts.

Despite the pressure, India’s government has dismissed the US tariffs as “unfair, unreasonable and unjustified.” Trade Minister Piyush Goyal affirmed India’s resolve, stating, “India will neither bow down nor ever appear weak.” Recent strong GDP growth numbers—7.8 percent for April to June—have been highlighted by Indian officials as a sign of resilience, but expert warnings persist about the potential for the new tariffs to dampen future economic expansion.

At this stage, legal challenges over Trump’s tariff policy are underway in US courts, but the higher rates remain in effect. Both the Indian government and US officials have left the door open to further negotiations but significant hurdles remain, and appeals are expected to drag into October.

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