Overview

• President Trump signed a decree on August 6 adding 25% to many Indian export tariffs, with the measures taking effect this week.
• U.S. leaders accused India of feeding Russia’s war machine through energy purchases, while Russia supplies roughly 18–20% of India’s oil.
• Analysts say about two-thirds of Indian goods now face higher effective duties, with some rates approaching 50% despite numerous exemptions.
• Economists warn that workers in textiles, jewelry and engineering face concentrated risks even if the overall macro impact may be limited.
• Modi will attend the SCO summit in Tianjin on August 31–September 1 to meet Xi Jinping and Vladimir Putin, as India–China ties cautiously thaw and Chinese commentary rejects talk of an anti-U.S. alignment.