US President Donald Trump’s doubling of tariffs on goods from India to as much as 50 percent took effect as scheduled on Wednesday, escalating tensions between the world’s two largest democracies and strategic partners.
Axar.az informs, citing Reuters, a punitive 25 percent tariff imposed due to India’s purchases of Russian oil adds to Trump’s prior 25 percent tariff on many products from India.
It takes total duties to as high as 50 percent for goods such as garments, gems and jewelry, footwear, sporting goods, furniture and chemicals - among the highest imposed by the US and on par with Brazil and China.
Steel, aluminum and derivative products, passenger vehicles, copper and other goods subject to separate tariffs of up to 50 percent under the Section 232 national security trade law.
India trade ministry officials say the average tariff on US imports is around 7.5 percent, while the US Trade Representative’s office has highlighted rates of up to 100 percent on autos and an average applied tariff rate of 39 percent on US farm goods.