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Former President Trump announced a 25% tariff on Indian goods, citing high tariffs on US products and India's purchase of Russian oil. This additional "penalty," effective Friday, comes after trade deals with other nations. Trump aims to offset budget deficits and boost domestic jobs. Economists predict slower US growth and increased inflation. The US had a $45.8 billion trade deficit with India last year. Despite close India-Russia ties, Trump previously urged India to buy US energy.

Prepared by Christopher Adams and reviewed by editorial team.