U.S.-India trade relations plunged into crisis on Wednesday after President Donald Trump issued an executive order imposing an additional 25% tariff on Indian goods, citing India's continued reliance on Russian oil.
Donald Trump told CNBC on Tuesday that the U.S. will impose new import tariffs on pharmaceuticals and chips “within the next week or so”. He said the measures were designed to reduce reliance on foreign supply chains and bring production back to the United States.
US President Donald Trump has declared a 25% tariff on imports from Japan and South Korea starting August 1, urging both nations to shift production to the US and warning of further tariff hikes if retaliatory measures are taken.
Washington’s latest trade decision hints at a broader diplomatic recalibration, as the global economic landscape demands new strategies to balance innovation with national interest.
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