Overview

• President Trump hailed the 50% reciprocal duties tied to India’s Russian-oil purchases as a “big blow” to Moscow and signalled readiness to escalate further
• New Delhi’s Ministry of External Affairs denounced the U.S. step as “unfortunate” and is devising relief packages and trade contingency measures
• Exporters report rushing shipments ahead of the August 27 deadline to avoid crippling new duties on key sectors such as textiles and gems
• Economists and former officials warn the high tariffs risk sharp export declines, widespread job losses and an unsustainable squeeze on both economies
• Indian officials are closely watching Trump’s upcoming meeting with Putin in Alaska for signals on possible tariff relief or further pressure