The US has added a 25% tariff on Indian imports, citing national security concerns over India’s purchase of Russian crude oil
China buys far more Russian oil but faces no such tariffs, revealing an uneven application of trade pressure by Washington
India exported goods worth $86.5 billion to the US last year; high tariffs could cripple low-margin sectors like textiles
India’s discounted Russian oil buys saved $15 billion since 2022, but the price advantage has almost disappeared this year
Switching away from Russian oil may cost $1.5 billion annually, far less than losing access to India’s biggest export market
Preserving ties with Russia matters, but protecting US trade is crucial for jobs, growth, and the current account balance