Trump Doubles India Tariffs Over Russian Oil Imports
Trump Doubles India Tariffs Over Russian Oil Imports

Trump Doubles India Tariffs Over Russian Oil Imports

News summary

U.S. President Donald Trump has imposed punitive tariffs, raising them to 50% on Indian imports in response to India's continued purchases of Russian oil, a move that has sparked significant controversy and economic repercussions. Indian lawmakers and experts, like Congress MP Shashi Tharoor, criticize the tariffs as shortsighted and counterproductive, warning they risk alienating India and weakening strategic coalitions like the Quad, while causing economic harm to Indian exporters and workers. Despite Trump's firm stance on maintaining high tariffs due to perceived one-sided trade and India's protectionist policies, Europe has expressed no intention to follow suit with sanctions on India. The tariffs have disrupted global oil flows, with Russia redirecting crude exports away from India towards China, which has increased its purchases to a five-month high, allowing Russia to sustain high export revenues despite refinery capacity issues. This shift has effectively reshaped the global crude oil market, benefiting Russia and China while challenging U.S. policy objectives. The escalating trade tensions between the U.S. and Russia, highlighted by sharp rhetoric between Presidents Trump and Putin, raise concerns about deepening global divides amid ongoing geopolitical alignments.

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