Trade advisor Peter Navarro announced the Trump administration's plans to impose a 50% tariff on Indian goods in response to India's oil dealings with Russia.
Tariff Situation for Indian Goods
Peter Navarro stated that the tariffs will take effect at 12:01 a.m. Washington time on August 27. He linked this decision to India's ongoing oil imports from Russia, accusing India of a lack of accountability.
India and Russia: Oil Connections
Despite the impending tariffs, India continues to increase its purchases of Russian oil. India has become one of the largest buyers of Russian crude since the start of the Ukraine conflict, a situation that has drawn the ire of Washington. Reports indicate that India now accounts for 37% of Russia's oil exports.
China Supports India Amid U.S. Conflict
The Chinese side quickly backed India in light of the new U.S. tariffs. The Chinese ambassador to India criticized the U.S. actions and promised support to maintain a multilateral trading system.
In summary, the introduction of tariffs on Indian goods highlights the strained trade relations between the U.S. and India, while China offers its backing amid tensions with Washington.
