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India Hits Back: New Tariffs on $2.89B U.S. Goods

7/5/2025

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Summary

India Retaliates Tariffs

India is set to retaliate against U.S. tariffs by imposing new duties on $2.89 billion worth of American goods, a move sparked by U.S. tariffs on Indian automobiles. With a 90-day tariff pause ending on July 9, India is racing to finalize a trade deal with the U.S. as tensions escalate.

Summary

Trump Initiates Tariffs

President Trump is set to impose new tariffs of 10% to 70% on 10-12 countries starting August 1, unless trade deals are finalized by July 9. While agreements have been reached with the UK and Vietnam, tensions escalate as negotiations with India and others remain ongoing, heightening the stakes in global trade.

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India Retaliates Tariffs

India is set to retaliate against U.S. tariffs by imposing new duties on $2.89 billion worth of American goods, a move sparked by U.S. tariffs on Indian automobiles. With a 90-day tariff pause ending on July 9, India is racing to finalize a trade deal with the U.S. as tensions escalate.

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