Overview

• White House trade adviser Peter Navarro said he does not expect President Trump to delay the tariff hike and accused India of running a refining profiteering scheme that sustains Russia’s war.
• U.S. duties on Indian goods reach 50% via a 25% reciprocal tariff plus an additional 25% linked to India’s Russian crude purchases, with implementation slated for August 27.
• External Affairs Minister S. Jaishankar, after talks in Moscow including a meeting with Vladimir Putin, said India is “very perplexed,” citing earlier U.S. requests to help stabilize energy markets and pointing out that China buys more Russian oil.
• China’s ambassador Xu Feihong publicly opposed the U.S. move and said Beijing will stand with India to uphold the WTO‑centered trading system.
• Russia signaled continued oil sales to India at roughly a 5% discount, subject to negotiation, as both governments emphasize sustained energy cooperation.