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US to double tariffs on most Indian imports from tomorrow
Starting August 27, 2024, the US will double tariffs on most Indian imports—raising duties to a hefty 50%.
Washington says it's trying to push India to cut back on buying Russian oil, arguing those sales help fund Russia's war in Ukraine.
India calls US decision unfair
These new tariffs hit key Indian exports like textiles, gems, leather goods, machinery, and furniture.
While items like medicines and electronics are spared, the move could make life tough for Indian businesses—especially small ones—trying to compete in their biggest overseas market.
India has called the decision unfair and is rolling out support for exporters while scouting for new markets.
PM Modi says India won't back down and will focus on helping small entrepreneurs and farmers weather this storm.