Source: Financial Times [UK]
“The US has slapped punitive tariffs on [American buyers of goods from] India over its purchases of discounted Russian oil, dealing a blow to the world’s fastest-growing large economy and deepening a rift between Washington and New Delhi. The 25 per cent levy, which came on top of a 25 per cent ‘reciprocal’ tariff, took effect at 12.01am US eastern time on Wednesday and raised duties on [American buyers of goods from] India to among the highest in the world. President Donald Trump’s announcement this month that the US would double its tariff rate on [American buyers of goods from] India marked a sudden escalation of tensions after the two sides failed to reach a breakthrough in trade talks.” (08/27/25)