Tariff War
Deadline ends, Trump's additional tariffs on India for Russian oil purchase kick in amid New Delhi's firm stance
Washington DC/IBNS: US President Donald Trump's 50 percent tariffs on India became effective on Wednesday as the August 27 deadline ended amid India's refusal to wilt under pressure, media reports said.
The Trump administration, which was earlier viewed as India-friendly, has slapped a 25 percent tariff on the South Asian country for its high tariffs on American exports and another 25 percent for purchasing oil from Russia which is fighting a war against Ukraine.
The White House, which has singled out India over Russian oil purchase, said the second 25 percent tariff will be effective from August 27, 2025.
Since the conflict in Ukraine began in early 2022, India significantly increased its imports of discounted Russian crude oil—now comprising over 30 percent of its total crude imports.
Indian refineries then export refined petroleum products globally which critics, especially in the U.S., argue that indirectly supports Russia’s war effort by funneling money into its economy.
In response, the US proposed tariffs and trade measures targeting India’s exports to discourage this behavior.
'No matter how much pressure comes, we will withstand it': PM Modi
Prime Minister Narendra Modi on Monday reiterated that his government will not compromise on the interests of farmers and small-scale industries, cautioning that "pressure on us may increase, but we will bear it".
"Today in the world, everyone is busy doing politics based on economic interests. From this land of Ahmedabad, I will tell my small entrepreneurs, my small shopkeeper brothers and sisters, my farmer brothers and sisters, my animal husbandry brothers and sisters and I am saying this on the land of Gandhi.
"Be it the small entrepreneurs, farmers, or animal keepers of my country, for everyone, I promise you again and again, your interests are paramount for Modi," PM Modi said, addressing a gathering after launching multiple projects in Ahmedabad.
"My government will never let any harm come to the small entrepreneurs, farmers, and animal keepers. No matter how much pressure comes, we will keep increasing our strength to withstand," he added.
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