Trump's Iran Tariff Threat: India Faces Double Whammy Amidst Russian Oil Sanctions

• US President Donald Trump announced a 25% tariff on countries trading with Iran, effective immediately.
• India, a major trading partner with Iran, already faces a 50% tariff from the US due to Russian oil purchases.
• The new tariffs could severely impact India's exports to the US and complicate ongoing trade agreement discussions.
• India-Iran bilateral trade was $2.33 billion in 2022-23, but has declined due to international sanctions.
• India exports rice, tea, sugar, medicines, and organic chemicals to Iran, and imports petroleum products, chemicals, plastics, fruits, and nuts.

Why It Matters: Trump's new Iran tariffs threaten India's trade, adding to existing pressure from Russian oil sanctions.