Big Blow to Indian Economy; US Imposes 10% Tariff on Trade with India

In a significant move impacting the Indian economy, the United States has announced the imposition of a 10% tariff on trade with India.

According to the details, US President Donald Trump took a firm stance against the BRICS countries—Brazil, Russia, India, China, and South Africa—declaring that no exemptions will be granted to India regarding these tariffs.

President Trump emphasized that India, as a BRICS member, will also be subject to the 10% tariff. He criticized the formation of BRICS, stating that the group was created to harm the US and weaken the US dollar.

He further warned that the US will not allow any country to challenge the dominance of the dollar in global markets.

The development comes amid growing concerns over India’s diplomatic and economic challenges, which are being attributed to failed policies leading to setbacks on multiple fronts.

Read More: Trump Threatens 15–20% Tariffs on Non-Compliant Nations, Targets Canada with 35%