Trump’s move could reshape India’s economic ambitions. Many American companies have seen India as an alternative to the Chinese manufacturing that Trump had hoped to diminish through the use of tariffs. Even though China also buys oil from Russia, Beijing was not subject to the additional tariffs in the order signed by the Republican president.
The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products.
In Other News