Earlier this month, Trump imposed a 25% penalty on India in addition to 25% tariffs for buying oil and weapons from Russia. The new rate will come into effect on 27 August. Delhi's increased imports of cheap Russian crude since the Ukraine war has caused a strain in its ties with the US and impacted negotiations on a trade deal.

White House trade adviser Peter Navarro blasted India for continuing to buy Russian oil and said he expects punitive tariffs of 50% on imports from the South Asian nation to kick in as planned next week.

US may double tariffs on India to 50% over Russian oil imports, says Navarro. Jaishankar counters, defending India’s energy policy amid trade tensions.

Peter Navarro alleged that the money India makes from trade with the US is being used to buy discounted Russian crude, which is then refined and resold at higher prices in other markets.

Chinese Ambassador Xu Feihong said that the US had long benefited from free trade but was now using tariffs as bargaining chips. He stated that the US had imposed tariffs of up to 50% on India and that China firmly opposed it.

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%.

Peter Navarro, Donald Trump’s chief trade adviser, has slammed India, dubbing it a ‘maharaj in tariff’ and accusing it of running a ‘profiteering scheme’ through discounted Russian oil. From his Harvard roots to his prison stint and return to Trump’s inner circle,

Investors should focus on a diversified portfolio strategy and view market corrections as opportunities for long-term allocations as US tariffs may impact export-driven sectors, but domestic demand will cushion the economy.