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US doubles tariffs on Indian goods, cites Russian oil issue
The US just announced it's doubling tariffs on Indian goods—from 25% to 50%—starting August 27, 2025.
President Trump says this move is a response to India buying cheaper Russian oil during the Ukraine conflict, and it's all happening through an executive order.
India may lose up to 1.2% GDP growth
This tariff hike isn't just about trade—it's meant to squeeze Russia and balance the US-India trade gap.
For India, though, it could sting: experts warn GDP growth might drop by up to 1.2 points, and exports to the US could fall as much as 60%.
Key industries like textiles, gems, electronics, and small businesses may feel the pinch.
India is now looking for new markets in places like Africa and Latin America to keep its exports moving.