Trump Slaps 25% Tariff on Iran Traders: India Faces Double Whammy

• US President Donald Trump announced a 25% tariff on countries trading with Iran, effective immediately.
• India, a major trading partner with Iran, faces significant economic pressure, already dealing with 50% tariffs on Russian oil purchases.
• The new tariffs could severely impact Indian exports to the US and complicate ongoing trade negotiations.
• India-Iran bilateral trade was $2.33 billion in FY 2022-23, but has declined due to international sanctions.
• The legality of Trump's tariff orders is under review by the US Supreme Court, with a ruling expected soon.

Why It Matters: Trump's new 25% tariff on Iran traders poses a major economic challenge for India, impacting trade and negotiations.