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Trump Imposes Tariffs on India Over Russian Energy and Military Deals
Trump Imposes Tariffs on India Over Russian Energy and Military Deals
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BTCCSquare news:
U.S. President Donald TRUMP has announced a 25% tariff on Indian goods, citing excessive trade barriers and New Delhi's reliance on Russian energy and military equipment. The new duties take effect immediately, with an additional penalty set for August 1st. Trump criticized India as one of Russia's largest energy buyers alongside China, arguing this undermines global efforts to pressure Moscow over Ukraine.
Despite a February agreement where Prime Minister Narendra Modi committed to increasing U.S. energy purchases from $15 billion to $25 billion, India continues substantial imports from Russia. Official data shows recent reductions, but Trump's MOVE signals escalating trade tensions between the two nations.
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