US Edition
Trumps Additional 25% Tariff Move on India Sparks Backlash From Industry
INDIA, AUG 7 – The tariffs target India's Russian oil imports and threaten key sectors like textiles and gems, risking a 40-50% drop in US-bound exports, experts said.
- Imposing the extra duties on Indian goods, the US on Wednesday added 25% tariffs, raising total to 50%, amid trade tensions over Russian oil imports.
- Citing national security concerns, Trump justified the move by citing India’s continued imports of Russian oil, which the US claims pose a threat.
- In 2024-25, the US accounted for 7% of $22.4 billion auto component imports from India, highlighting trade dependence amid tariffs.
- Indian exporters brace for substantial business losses, with the steep 25% tariff likely causing over 40% cuts in US-bound exports, especially in engineering and textile sectors.
- Exporters hope the U.S. will withdraw the additional tariff and have called for efforts to continue negotiations, while analysts see room to salvage bilateral ties.
15 Articles
15 Articles
Trumps additional 25% tariff move on India sparks backlash from industry
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Indian exporters work out 3-way deal with US buyers to beat Trump tariffs, expedite consignments
Indian exporters and their American partners have worked out a three-way arrangement to distribute the burden of US President Donald Trump's tariffs between Indian exporters, American importers, and American customers. But Indian exporters fear that even such an arrangement may not save them from 50% tariffs.
Breaking down President Trump's decision to impose an additional 25% tariff on India
President Trump announced on Wednesday that an additional 25% tariff would be imposed on India in three weeks as the country continues to buy Russian oil. Last year, the U.S. imported more than $87 billion in goods from India. CBS News national security contributor Sam Vinograd breaks down the tariffs and potential impact.
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