US President Donald Trump's statement and executive order on Wednesday, which observers are seeing as a new "tariff bomb" for India, have created uncertainty in the Indian economy, while Indian opposition leader Rahul Gandhi has called for Prime Minister Narendra Modi to step down. Washington has imposed an additional 25% tariff on India for buying oil from Russia, bringing the US tariff on its products to 50%. President Trump had warned India in his message on social media platforms on August 3 that it could face an increase in tariffs. He said that New Delhi is not only buying large quantities of Russian oil, but it is also selling this purchased oil on the open market at huge profits. According to the US President's statement, India is not a good trading partner; it is fueling the war machine in Ukraine by buying oil from Russia.
These things have
been repeated by the White House in the justification for the new tariffs, with
a slight difference in wording. On the other hand, the Indian Ministry of
External Affairs, in a statement, termed the imposition of additional tariffs on
New Delhi as unfair, unjustified, and unnecessary and said that India will take
all necessary measures to protect its national interests. In the executive
order, Trump explained that Russia’s continued military operations in Ukraine
are a “national emergency,” and therefore it is necessary and appropriate to
impose additional tariffs on India, which is a major consumer of its petroleum
products. The 25% tariff on India was implemented on Thursday, August 7,
2025, while the announcement of a further 25% increase in tariffs is expected
to be implemented in the last week of August. Economists estimate that the
increase in US tariffs could affect 55% of India’s exports. Textile, jewelry,
leather, and machinery industries are likely to be affected. Pharmaceuticals,
auto parts, agriculture, and small industries and businesses will be affected, with
India’s GDP growth rate likely to be less than 6% in 2025.
While some
politicians and economists believe that in the new situation, India will have
an opportunity to make new plans and make efforts in new fields. In the context
of American actions, on the one hand, India's National Security Advisor Ajit
Doval has gone to Moscow for talks with Russian officials. On the other hand,
Russian President Putin and the US President's special envoy Steven Vinkov held
talks on the Ukraine issue, which the Russian President described as
constructive. This meeting took place two days before the deadline given by the
US president to Moscow to stop the Ukrainian invasion or face new sanctions.
Before the meeting, Ukrainian President Volodymyr Mirzelinsky urged Washington
to increase its pressure on Moscow for a ceasefire. The nature of these talks
suggests that in the event of a Russia-Ukraine ceasefire, the possibility of a
reduction in the global crisis may emerge.
As far as New
Delhi is concerned, the best advice for its rulers may be to avoid a policy of
subjugating and subjugating their neighbors, work together in an atmosphere of
peace and cooperation for their own and the entire region's development and
prosperity, and play a role in realizing the dreams of the people of the region
that have been passed down from generation to generation since 1947.
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