US raises tariffs on Indian goods to 50%
The US has bumped up tariffs on Indian goods from 25% to 50%, starting this week.
This change hits nearly $87 billion in annual trade and is Washington's way of protesting India's ongoing purchases of Russian oil.
Imports shipped before the deadline can dodge the new rate if cleared by September 17 with the right paperwork.
India urged to step up local business support
This tariff hike puts pressure on major Indian exports like textiles, jewelry, seafood, and metals—potentially giving countries like Bangladesh and Vietnam a leg up.
In response, PM Modi is urging support for local businesses and 'Make in India' efforts, while India looks to expand trade with places like China and Latin America.
Experts warn this could cool off US-India trade ties at a time when global politics are already tense.