U.S. tariffs on Indian exports skyrocketed to 50% this week, targeting everything from machinery to textiles, as former President Donald Trump aims to pressure New Delhi over its energy deals with Russia. The move—part of a broader strategy to isolate Moscow amid the Ukraine conflict—has sparked outrage in India, with officials calling it "unfair" and vowing to protect their economy. 💸🛢️
Why Now?
India’s purchase of Russian oil—which saved it billions in 2024—has become a flashpoint. While the U.S. exempts pharma, chips, and smartphones (📱✨), smaller industries face a "trade embargo-like" blow. Analysts warn this could disrupt supply chains and hike prices globally.
Modi Fights Back
Indian PM Narendra Modi pledged tax cuts and "self-reliance" in a fiery independence speech, signaling defiance. With the U.S. as India’s #1 export market ($87.3B in 2024!), tensions could ripple through tech hubs like Bengaluru and auto factories in Chennai. 🏭🇮🇳
What’s Next?
Will India dial back Russian oil? Unlikely. State-run refiners say they’ll keep buying if the price is right. Meanwhile, Trump’s team eyes new tariffs on sectors like EVs and renewables. Buckle up—this trade war is just heating up. 🔥🌐
