Digest for 27 August, 2025
US Imposes 50% Total Tariff on Indian Goods Amid Dispute Over Russian Oil
The United States has imposed an additional 25% tariff on many Indian products, bringing the total levy to 50%. The new duty, which took effect August 27, is a punitive measure by the Trump administration in response to India's continued purchases of Russian crude oil. The move escalates trade tensions and is expected to impact $48.2 billion worth of Indian exports, including garments, gems, and chemicals, potentially leading to job losses and slower economic growth in affected sectors.
Landslide on Vaishno Devi Shrine Route Kills at Least 30 Pilgrims
At least 30 pilgrims were killed and 14 injured after a massive landslide struck the route to the Mata Vaishno Devi shrine in Jammu and Kashmir's Reasi district. The tragedy occurred near Adhkwari following several days of relentless heavy rainfall that has battered the region. Rescue operations are underway to evacuate the stranded and search for those feared trapped under the debris. The pilgrimage to the holy shrine has been suspended until further notice as the situation remains critical.
Trump Attempts to Fire Federal Reserve Governor, Sparking Legal Challenge
US President Donald Trump has attempted to fire Federal Reserve Governor Lisa Cook, an unprecedented move that challenges the central bank's political independence. Trump cited allegations of mortgage fraud as the reason for her removal. Cook has refused to resign, calling the action illegal and baseless, and has announced she will file a lawsuit to contest the firing. The confrontation raises significant legal questions and could have profound implications for the US and global economies by undermining the Fed's autonomy.
India Condemns Killing of Journalists in Gaza Airstrike
India's Ministry of External Affairs has condemned the killing of five journalists in an Israeli airstrike on Nasser Hospital in Khan Yunis, Gaza, calling the incident "shocking and deeply regrettable." In a formal statement, New Delhi reiterated its long-standing position against the loss of civilian lives in conflict zones. The statement noted that Israeli authorities have reportedly launched an investigation into the attack, which has drawn widespread international concern from press freedom and humanitarian organizations.
India Nears $1 Billion Deal for US-Made GE Jet Engines for LCA Fighters
Amid escalating trade tensions, India is close to finalizing a deal worth approximately $1 billion with American firm GE to procure 113 GE-404 engines. These engines will power the next batch of 97 indigenous LCA Mark 1A Tejas fighter jets. This purchase is in addition to a previous order for 99 engines. The deal's progression, despite the new US tariffs on Indian goods, highlights the continued strategic and defense partnership between the two nations, which operates in parallel to economic disputes.