Overview

• The Trump administration announced on July 30 that it will impose 25% reciprocal tariffs on Indian imports starting August 7 after talks failed to secure farm market access.
• India’s government has said it will continue to import discounted Russian crude despite U.S. threats of 100% secondary duties on third-party traders.
• New Delhi refuses to open its agricultural and dairy sectors, citing the livelihoods of nearly half its workforce, which has stalled progress in bilateral negotiations.
• An Indian foreign ministry spokesperson said crude import decisions depend on prevailing international prices and conditions, with no instructions to reduce Russian supplies.
• India imposed retaliatory duties on U.S. steel and aluminum tariffs in May and is pursuing trade diversification to lessen dependence on any single partner.