President Donald Trump on Wednesday announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff that is set to go into effect Thursday,

Trump advisor Peter Navarro accused India of being a "laundromat for the Kremlin" by refining discounted Russian oil and selling it at premium prices, thus perpetuating the war in Ukraine. He defends US tariffs on Indian goods,

Peter Navarro, Donald Trump’s chief trade adviser, has slammed India, dubbing it a ‘maharaj in tariff’ and accusing it of running a ‘profiteering scheme’ through discounted Russian oil. From his Harvard roots to his prison stint and return to Trump’s inner circle,

Ecuador, meanwhile, is closely tracking tariffs on India to seize on business opportunities, but producers there will go slow on new investments amid uncertainty over whether India and the Trump administration could strike a tariff deal, said Jose Antonio Camposano, president of National Chamber of Aquaculture of Ecuador.

Chinese Ambassador Xu Feihong said that the US had long benefited from free trade but was now using tariffs as bargaining chips. He stated that the US had imposed tariffs of up to 50% on India and that China firmly opposed it.

Robert Lighthizer, Trump’s chief trade negotiator in his first term and a long-time trade skeptic, wrote that during talks with Indian officials he kept biographies of “fifteen or so billionaires” on his desk.

India gets tariff relief after Trump-Putin Alaska talks as Russia offers oil discounts and assures S-400 delivery in the middle of US sanctions pressure.

Investors should focus on a diversified portfolio strategy and view market corrections as opportunities for long-term allocations as US tariffs may impact export-driven sectors, but domestic demand will cushion the economy.