World Business Report Trump slaps a further 25% tariff on India
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Aug 6, 2025 Achana Shukla, a Mumbai-based business correspondent, dives into the fallout of President Trump's new tariffs, especially the looming threat of 50% tariffs on Indian exports due to oil purchases from Russia. She discusses how this could reshape India's oil strategy and its longstanding ties with Russia. The conversation broadens to include the impact on coffee exporters in Brazil and risks faced by other nations like Switzerland, all while touching on shifting dynamics in global trade and investor sentiments amidst these turmoil.
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India's Dependence on Russian Oil
- India currently sources about 40% of its oil from Russia and considers it crucial for energy security.
- Without government directives, India is unlikely to significantly reduce its Russian oil imports soon.
Brazilian Coffee Tariffs Hurt All
- Brazil faces a 50% tariff on coffee exports to the US, threatening Brazilian farmers and increasing costs for American consumers.
- Importers must upfront these tariffs and pass costs along, impacting the entire supply chain.
Switzerland's Tariff Challenges
- Switzerland faces some of the highest tariffs due to its large trade surplus with the US and limited ability to lower import taxes.
- Swiss political constraints limit tariff negotiation options, making investment commitments the main bargaining chip.
