President Trump Announces New Tariffs on India
(CNN) — President Donald Trump announced significant tariffs targeting India, a key partner in international trade.
Details of the Tariffs
Starting Thursday, a 25% tariff will be implemented, followed by an additional 25% tariff later this month, as a response to India's continued importation of Russian oil and gas.
Impact on Trade
These combined levies could elevate the total tariffs on Indian exports to 50%, making it one of the highest tariff rates the United States has applied to a major trading partner.