- cross-posted to:
- worldnews@lemmy.ml
- cross-posted to:
- worldnews@lemmy.ml
Donald Trump imposed 50% tariffs on most US imports from India, making good on a threat to punish one of the world’s largest economies over its purchases of discounted Russian oil.
The tariffs, which came into effect just after midnight on Wednesday in Washington, risk inflicting significant damage on the Indian economy and further disrupting global supply chains.
US tariffs of 25% on Indian goods went into force earlier this month, but Trump announced plans to double the rate, citing New Delhi’s purchases of Russian oil, which the White House has argued is indirectly funding Russia’s war against Ukraine.
I read it as “Trump imposes 50% tariff on someone arbitrary for any reason he can come up with so he can look big and mean.”