President Trump is set to impose an additional 25% tariff on imports from India. The move is aimed squarely at penalizing New Delhi for its continued purchases of Russian oil, despite U.S. pressure to curtail such trade.
The tariff also comes against the backdrop of expectations for further sanctions on Russia, as Washington seeks to tighten economic pressure and push Moscow toward ending the war in Ukraine. By singling out India, Trump intends to make it a high-profile example of the potential consequences for buying Russian oil—and potentially other sanctioned goods.
Beyond punishment, the strategy carries a clear economic objective. Trump wants to shift more goods toward the U.S. market while simultaneously boosting U.S. oil exports to India. In his view, that would both reduce India’s reliance on Russian energy and strengthen America’s trade position.
Oil prices have moved higher on the news. From a technical standpoint, however, last week’s decline brought the market back down to test its 100-day moving average (blue line on the chart above), currently at $64.96. Today’s low of $65.11 came just above that key level, and the subsequent bounce has pushed prices away from it.
The market is now trading at $65.68. For sellers to regain control, a break and sustained move below the 100-day moving average is needed, which would open the door to the next downside targets near $64.71 and then $63.61. On the topside, there is resistance near $66.97, followed by the 200-day moving average at $67.89.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about trump imposes an additional 25 tariff on india imports as a penalty for russia oil buys was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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