The United States is Doubling Import Dekens on Many Indian Goods. This includes Precious Stones, Shoes, Chemicals, and Furniture. Companies must now pay 50 percent.
Accordance to news agency Reuters , this affects Approximately 55 percent of Indian Exports to the US. IT is a significant blow for India: The Higher Duties May make the country less Attractive to multinationals Considering opening New Factories.
India has recently bone buying a lot or russian oil, while western country country restricted imports from russia following the invasion of ukraine. US President Donald Trump Wants to use the Higher Tariffs to Show That Does Not Appreciate the Use of Oil From Russia. With the new tariffs, the US Now Applies One of the Highest Import Duties in the World for India.
The Measure is striking. The US Wanted India As An Ally in Asia Against the Growing Influence of China, But India Seems to Be Increasingly Strengthening Ties with China Again.
For Companies and Consumers in Both the US and India, The Impact is Imediately Noticable. India will have to consider how export strategies can be adjusted, while american importers must take into account a significant increase in their costs.