Overview

• Tariffs of up to 50% on a wide range of Indian products take effect on August 27 under President Trump's trade regime.
• Roughly half of the levy is described in coverage as a penalty tied specifically to India's extensive purchases of Russian oil.
• Bloomberg reports, citing industry insiders, that Indian refiners plan to trim Russian crude imports in October to about 1.4–1.6 million barrels a day from roughly 1.8 million earlier this year, with no official confirmation from New Delhi or major companies.
• India's ambassador in Moscow and the foreign minister publicly criticized the tariffs and said companies will keep buying wherever the deal is best, signaling continued interest in Russian supplies.
• Analysts say a sustained pullback in Indian buying would hit Russia's oil revenues and could reshape regional alignments, even as the U.S. also cites a goods trade deficit of about $45.8 billion with India.