Overview

• The White House added a 25% penalty linked to India’s Russian oil purchases on top of earlier 25% tariffs, taking many duties to 50%.
• A U.S. appeals court has found most of the tariffs unlawful, yet a stay keeps them active until October 14.
• Commerce minister Piyush Goyal says talks are underway and expresses confidence that an agreement could be finalised by November.
• President Trump asserts India offered to drop tariffs on U.S. goods, a claim that has fueled political debate as opposition leaders call the 50% levy "economic blackmail."
• Economists and industry voices warn of damage to sectors such as textiles, chemicals, and machinery, with business leaders urging diversification of export markets.