US administration’s doubling of tariffs against India takes effect | investingLive

The 25% punitive tariffs here stacks on top of the previous 25% tariffs on many Indian products, as part of Trump’s disdain towards the fact that India moved to purchase Russian oil. This means that goods such as garments, gems, footwear, furniture, and chemicals will be slapped with 50% tariffs.

For goods loaded onto a vessel and in transit to the US before the midnight deadline, there will be a three-week exemption period. Otherwise, the above tariffs will be applicable. Besides that, steel and aluminum are also exempt.

Talks don’t seem to be going well between both sides and this clearly shows that even “close” allies are subject to being pushed around by Trump. Basically, anything goes.

Here’s a good list by Reuters on what will be impacted the most from India: