US tariffs on most of India’s exports doubled to 50% on Wednesday, as a threatened 25% “secondary tariff” over India’s imports of Russian crude took effect on the Aug. 27 deadline. India’s tariff rate now stands above that of US strategic rival China, the No. 1 buyer of Russian crude.
Indian Refiners Mull Russian Restart After US Tariff Doubles
With US tariffs now at 50% despite India's slowdown in Russian crude buying, state refiners are still pausing purchases but eying discounted Urals.
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