India, Trump and 25 percent tariff
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India has recommended a three-year import tariff of 11%-12% on some steel products to curb shipments from top producer China. The levy, if imposed, will start at 12%. It will be eased to 11.5% in the second year and to 11% in the third year,
U.S. President Donald Trump has announced additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%
New Delhi’s frayed ties with Washington have added to a thaw in the frosty relationship with Beijing that began last year.
The U.S. in July imposed a punitive 93.5% tariff on import of graphite anode materials from China, creating an opportunity for India's Epsilon to break Beijing's monopoly on supplies of the key battery component.
Economist Jeffrey Sachs torched Senator Lindsey Graham on Breaking Points, branding him “the worst senator in the US Senate” and “just a fool,” while slamming Trump-era tariffs on India as “the stupidest tactical move of US foreign policy for a long time.”
India on Wednesday test-fired an intermediate-range ballistic missile capable of carrying multiple nuclear warheads, a government statement said, in an apparent show of strength ahead of a threatened US tariff increase.
India's monetary policy committee members flagged evolving risks from global trade tensions and tariffs as a key drag on growth but said the economy remains resilient with the inflation outlook benign,