Key Highlights
- Trump backs a bipartisan bill that proposes a 500% tariff on Indian exports.
- India imports up to 40% of its oil from Russia, benefiting from discounted prices.
- The bill aims to penalize countries seen as supporting Russia's war through oil purchases.
- Current tariffs on select Indian goods are at 50% since August 2025.
- The proposal is still under consideration and not yet enacted.
