A day after the Trump administration raised tariffs on Indian exports to 50%, the Indian rupee opened slightly stronger, gaining 3 paise to trade at 87.69 against the US dollar in early trading.
US President Donald Trump had announced an additional 25% tariff on Indian exports, citing it as a penalty for India’s continued import of Russian crude oil. He also warned that similar action could be taken against other countries engaging in oil trade with Russia.
In response, India’s Ministry of External Affairs criticized the move, calling it “unfair, unjustified, and unreasonable.” The ministry emphasized that India’s oil imports are based on market dynamics and aimed at ensuring energy security for its 1.4 billion citizens.
The Indian government further said it was “extremely unfortunate” that the US had chosen to impose extra tariffs, particularly when other countries are also engaging in similar actions to protect their national interests. The move has added further strain to India-US trade ties amid growing global geopolitical tensions.
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