The Big Beautiful Bill!

Trump's tariffs are less about punishing imports than about financing tax cuts for America's richest — leaving middle-class and global economies to bear the cost

- AMRITA KAMALINI BHATTACHARYYA

On July 31, 2025, Donald Trump signed an Executive order, something he is exceedingly fond of, for a 25% tariff on Indian Exports over and above the already declared reciprocal tariff of 26%, which he announced on April 2nd, 2025. Like many other countries, India, like the EU, Vietnam, and South Korea, tried to draw a trade deal with the USA to decrease the tariff rates from the initial announcement date. However, as India refused to revoke the excise duty it levied on the agricultural products from the USA, all negotiations fell through.

This additional 25% tariff on India is because India has been importing oil from Russia, with a discount of $3-4 per barrel from the International crude oil prices. According to a report published in Mint, India has bought around $121.59 million worth of crude oil from Russia since the start of the Russian-Ukrainian war. India is not the only country facing an extremely high export tariff from the USA. China, the EU, Vietnam, Taiwan, South Korea, Singapore and many more such countries are facing this heat.