US-Russia Trade Tensions Lead to Tariffs on Indian Products
United States imposed 50% tariffs on Indian products in retaliation for increased Russian oil imports India sourced 36% of its crude oil from Russia in 2024 as traditional suppliers shifted to Europe Tariffs target steel, aluminum, textiles, seafood, jewelry, excluding pharmaceuticals and electronics Senior Asia Society vice president Wendy Cutler noted India faces high US tariffs risking $87 billion in losses Prime Minister Modi vowed not to yield to US pressure, planning domestic reforms and export diversification Analysts warn tariffs may cause job losses and slower economic growth.