đš Trump Targets India with Tariff Hike Over Russian Oil Trade
đșđžđźđł In a fiery TruthSocial post, President Donald Trump announced plans to raise tariffs on Indian imports, citing India's continued purchase and resale of Russian oil as fueling the "Russian War Machine."
đ Key Points:
â«ïž Trump criticized India for profiting from discounted Russian oil despite global sanctions.
â«ïž The announcement follows a 25% tariff move on July 30, which triggered a sharp drop in Bitcoin prices.
â«ïž No specific rates or effective dates have been disclosed for the new tariffs.
â«ïž Sectors potentially impacted include pharmaceuticals and textilesâboth critical to U.S.-India trade relations.
â«ïž The development comes just as Trumpâs earlier statements on rate-cut-friendly Fed appointments had triggered a crypto rally, now reversing.
đ This shift marks a potentially serious deterioration in U.S.-India economic relations, with geopolitical tensions and global supply chain risks once again taking center stage.
#Trump #USIndiaRelations #Tariffs #GlobalTrade #Geopolitics
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