Overview

• President Trump’s 25 percent reciprocal tariff on Indian goods became effective August 1
• On Truth Social, Trump threatened to substantially raise US duties over India’s ongoing purchase and resale of discounted Russian oil
• India’s Ministry of External Affairs condemned the oil-linked tariff threats as unjustified
• The 25 percent duties have contributed to the rupee’s decline, raising costs for exporters
• Ford CEO Jim Farley warned that prolonged tariffs will reshape automotive production into aligned regional markets in North America, Europe and Asia