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'India must weigh oil against tariffs'
Mint Mumbai
|August 11, 2025
India should consider whether the cheap oil imports from Russia are 'worth it' after the Trump administration announced an additional 25% tariff on Indian goods, Nobel laureate Abhijit Banerjee has said.
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Last week, US President Donald Trump signed an executive order, slapping an additional 25% levy on India for New Delhi's purchases of Russian oil, bringing the total duties to 50%—among the highest imposed by the US on any country.
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