Trump’s Tariff Gambit Puts India in an Oil Price Bind

In one of his more controversial decisions last week, President Trump said the U.S. would impose an additional 25% on many Indian imports—because of India’s imports of Russian crude oil. The news lifted oil prices, and Indian refiners suspended their Russian oil orders. But the bigger picture shows India at a crossroads not dissimilar to that of the EU: a choice between cheap and expensive energy with all that either option entails. On the face of it, the choice is pretty simple, as laid out by the Economic Times in an article that…