U.S. President Donald Trump imposed a crushing 50% tariff on Indian goods Wednesday to punish the country for buying Russian oil, upending a decadeslong push by Washington to forge closer ties with New Delhi.
The new tariffs, the highest in Asia, took effect at 12:01 a.m. in Washington, doubling the existing 25% duty on Indian exports. The levies will hit more than 55% of goods shipped to the U.S. ¡ª India¡¯s biggest market ¡ª and hurt labor-intensive industries like textiles and jewelry the most. Key exports like electronics and pharmaceuticals are exempt, sparing Apple¡¯s massive new factory investments in India for now.
The move marks a sharp deterioration in ties for the two nations and an about-turn in Washington¡¯s strategy over the years to court India as a counterweight to China. Trump has slammed India for buying Russian oil, which he said was funding Russian President Vladimir Putin¡¯s war in Ukraine. New Delhi has defended its ties with Russia and has called the U.S.¡¯s actions ¡°unfair, unjustified and unreasonable.¡±
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