Trump order doubles Indian tariffs to 50% over Russian oil
Nikkei staff writers
NEW YORK -- Washington will impose an additional 25% tariff on Indian goods imported into the U.S., as New Delhi continues to purchase oil from Russia, U.S. President Donald Trump said in an executive order on Wednesday, bringing the total levy to 50%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
33 minutes ago
- Nikkei Asia
Toyota cuts full-year forecast after flagging $9.5bn tariff hit
A participant looks at a Toyota Tacoma pickup truck at the Colorado Auto Show in Denver on April 17. © AP YUICHI SHIGA TOKYO -- Toyota Motor expects a 1.4 trillion yen ($9.5bn) hit to operating profit for the year through March 2026 from the tariff on automobiles imported to the U.S. imposed by U.S. President Donald Trump, it said on Thursday.
5 hours ago
Trump's Reciprocal Tariffs Go into Effect
News from Japan Economy Aug 7, 2025 15:57 (JST) Washington, Aug. 7 (Jiji Press)--U.S. President Donald Trump's so-called reciprocal tariffs on trading partners, including a 15 pct levy on Japanese imports, went into effect on Thursday. The 15 pct tariff on Japan is lower than the 24 pct announced by Trump in April, but higher than the initial 10 pct baseline levy. The Trump administration has agreed not to impose the reciprocal tariff on Japanese goods that are already subject to a tariff of 15 pct or higher while setting the tariff rate at 15 pct on items with a levy of less than 15 pct. But that agreement is not mentioned in a document released by the U.S. government Wednesday. The tariff on Japanese beef will rise to 41 pct from 26.4 pct, a Japanese government official said. [Copyright The Jiji Press, Ltd.] Jiji Press
7 hours ago
Japan's FY 2025 GDP Growth Projection Lowered to 0.7 Pct
News from Japan Economy Aug 7, 2025 17:56 (JST) Tokyo, Aug. 7 (Jiji Press)--The Cabinet Office said Thursday that Japan's gross domestic product in fiscal 2025 is expected to grow a real 0.7 pct from the previous year, down from 1.2 pct shown in the government's economic outlook adopted in January. The new estimate for the fiscal year through March 2026, submitted to the day's meeting of the Council on Economic and Fiscal Policy, reflects downside risks from high tariffs imposed by the administration of U.S. President Donald Trump. The U.S. tariff policy is expected to reduce Japanese manufacturers' exports to the United States and help stagnate the global economy. The Cabinet Office expects growth in Japan's exports to decelerate sharply to 1.2 pct from 3.6 pct due to slowing demand from abroad. Capital spending by Japanese firms is estimated to expand 1.8 pct, down from 3.0 pct. Personal consumption is forecast to climb 1.0 pct, down from 1.3 pct, as budget-minded attitudes are deep-rooted amid recent price increases for rice and other food. [Copyright The Jiji Press, Ltd.] Jiji Press
