Trump Doubles India Tariffs, India Halts Russian Oil

U.S. President Donald Trump has imposed an additional 25% tariff on Indian goods, bringing the total to 50%, in response to India's continued imports of Russian crude oil. This move led major Indian state-run refiners to halt spot purchases of Russian oil for October, awaiting government direction. Prime Minister Narendra Modi criticized the tariffs as 'unfair, unjustified and unreasonable,' pledging to protect the interests of Indian farmers, fishermen, and dairy workers, and highlighting the absence of similar measures against China, the largest buyer of Russian oil. The White House's executive order signals possible tariffs on other countries trading with Russia and additional duties on sectors including semiconductors and pharmaceuticals. Goldman Sachs estimates the tariffs could reduce India's GDP by 0.6 percentage points. The standoff highlights tensions between energy security, trade, and alliances, with India indicating a possible diplomatic shift in response.