US Doubles Tariffs on Indian Goods Over Russian Oil Imports

America has doubled customs duties on a range of goods imported from India, from 25% to 50%. Bloomberg reports this, recalling that the decision is due to India's continued purchases of Russian oil.

An exception has been made only for some industrial sectors, in particular, the export of electronics, which will temporarily protect Apple's large-scale investments in Indian factories, and pharmaceutical products.

Instead, the increase in customs duties is significant for the textile and jewelry industries.