Is India Facing Trump’s Harshest Tariff Yet? A Look At Levies On Other Countries | Business News
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Trump announced a fresh 25% tariff on Indian goods, citing New Delhi’s ongoing purchase of Russian oil, taking the total amount of tariffs on Indian imports to 50%.
Prime Minister Narendra Modi with US President Donald Trump. (Image: PTI/File)
US President Donald Trump announced a fresh 25% tariff on Indian goods, citing New Delhi’s ongoing purchase of Russian oil, taking the total amount of tariffs on Indian imports to 50%, among the highest tariff imposed among dozens of economies by his administration.
The newly imposed tariff, directly tied to India’s energy relationship with Russia, will take effect 21 days from the date of the order. Meanwhile, a previously declared 25% tariff, aimed at narrowing the US trade deficit with India, is scheduled to come into force on August 7.
India now has the highest amount of tariffs, matching Brazil, at 50%, followed by Syria (41%), Myanmar (40%), Laos (40%) and Switzerland (39%). India’s neighbour China currently faces 30% US tariffs, and Canada and Iraq are facing 35% tariffs each.
The new tariffs will come into effect on August 7, except Canada’s, which already started on August 1. Trump slapped a 50% on Brazil, with many exemptions, in what he called a “witch hunt” against former President Jair Bolsonaro, who is on trial on charges of plotting a coup following his election loss in 2022.
Negotiations are still under way with China as Beijing and Washington have agreed to hold off until August 12. Mexico received a 90-day reprieve from 35% tariffs imposed by Trump.
Here’s A List Of Tariffs In Other Countries:
- Brazil – 50%
- India – 50%
- Syria – 41%
- Switzerland – 39%
- Canada – 35%
- South Africa – 35%
- China – 30%
- Vietnam – 20%
- Bangladesh – 20%
- Pakistan – 19%
- Israel – 15%
- United Kingdom – 10%
Since returning to office in January, Trump has introduced a series of these import taxes, arguing that they will boost American manufacturing and protect jobs. However, his aggressive trade policy has thrown the world economy into chaos and also contributed in soaring domestic prices.
Trump has been attacking India over the sale and purchase of oil from Russia, which has been at war with Ukraine since 2022. The US President has repeatedly alleged that it was very difficult to do business in India due to its high tariff rates and that New Delhi was fueling Russia’s war machine against Ukraine by purchasing Russian oil.
In response, the Ministry of External Affairs said targeting of New Delhi is “unjustified” and “unreasonable”, emphasising that India will take all necessary measures to safeguard its national interests and economic security.
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“We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” it said on Wednesday.
“It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” it added. The MEA said India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the Ukraine conflict, a move that was encouraged by the US to strengthen global energy market stability.
Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international affairs, particularly related to geopolitics and global conflicts. He has covered numerous international and national events with reputed news agencies.
Source: www.news18.com