In a major development for Indian trade and energy security, US President Donald Trump has officially signed an executive order putting a hold on imposing heavy 100% tariffs on Indian exports. This decision brings massive relief to Indian businesses, exporters, and government officials.
The threat originated from a US law, the Lindsey O. Graham Sanctions Act, which gave Washington the power to hit countries with up to 100% trade tariffs if they continued buying Russian crude oil and natural gas. With India importing over 80% of its crude oil needs and Russian oil making up a significant portion the proposed punishment had created serious tension between the two nations.
However, President Trump exercised executive power to pause these sanctions, stating that waiving the extra tariffs is in the national interest of the United States. Experts say Washington chose to hold back to avoid pushing global oil prices higher amidst ongoing geopolitical instability in the Middle East. India Ministry of External Affairs has consistently maintained that securing affordable energy supplies for its 1.4 billion citizens remains its top priority. With the tariff threat now off the table, Indian markets can breathe a sigh of relief, keeping bilateral trade smooth and fuel costs stable for ordinary citizens.
