- cross-posted to:
- worldnews@lemmy.ml
- cross-posted to:
- worldnews@lemmy.ml
Donald Trump imposed 50% tariffs on most US imports from India, making good on a threat to punish one of the world’s largest economies over its purchases of discounted Russian oil.
The tariffs, which came into effect just after midnight on Wednesday in Washington, risk inflicting significant damage on the Indian economy and further disrupting global supply chains.
US tariffs of 25% on Indian goods went into force earlier this month, but Trump announced plans to double the rate, citing New Delhi’s purchases of Russian oil, which the White House has argued is indirectly funding Russia’s war against Ukraine.
Given the gifts Trump has handed to Russia so far, he’s likely using Russian oil as a mere justification to impose more tariffs on India. Tariffs that are unlikely to stop India from using Russian oil. Not an actual attempt to hurt Russia.