US President Donald Trump’s new punitive tariffs on India took effect today, doubling most duties on Indian goods exported to the United States to 50 per cent. The increase stems from a 25 per cent base tariff plus a 25 per cent penalty linked to India’s purchases of Russian oil, which Washington says undermines US security interests.
Trump’s 50% Tariffs on India Take Effect, Hitting Key Exports
According to the Department of Homeland Security, the new rates apply to all Indian goods entering or withdrawn for consumption after 12:01 a.m. EDT on Wednesday. Nearly half of India’s $87.3 billion exports to the US—including textiles, jewellery, seafood, leather, steel and chemicals—will be hit. Pharmaceuticals, electronics and petroleum products remain exempt, while India pushes exporters to diversify into 50 new global markets.
Follow us on:
Read More News at #latestmalaysia #BusinessNews and #WorldFuture
