Navorro: See's doubling of India tariffs taking place on August 27

8 months ago 31

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India buys and sells Russian oil for a profit

White House trade advisor and tariff lover, Peter Navarro is on the wires saying:

India tariffs will likely be doubled on August 27.
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India purchases Russian oil, and then resells the discounted oil for a nice profit. It keeps funds flowing into Russia, which allows for the growth in their economy, and the funding of the war effort in Ukraine. As a result, this tariff is probably one of the more justified.

However there may be some carveouts including Apple iPhones. Apple moved a lot of their production from China to India which further complicates the calculus..

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