White House trade advisor and tariff lover, Peter Navarro is on the wires saying:
- India tariffs will likely be doubled on August 27.
- India does want to recognize its role in the Ukraine Russian bloodshed
- Calls India a laundromat for the Kremlin
India purchases Russian oil, and then resells the discounted oil for a nice profit. It keeps funds flowing into Russia, which allows for the growth in their economy, and the funding of the war effort in Ukraine. As a result, this tariff is probably one of the more justified.
However there may be some carveouts including Apple iPhones. Apple moved a lot of their production from China to India which further complicates the calculus..
