The post USD/INR jumps higher as Trump threatens slew of fresh tariffs appeared on BitcoinEthereumNews.com.

The Indian Rupee weakens against US Dollar as Trump reiterated 10% tariff threats on BRICS nations for de-dollarization practices. Trump threatens to impose 200% tariffs on pharmaceutical imports next year. Investors await the FOMC minutes for the June 17-18 policy meeting. The Indian Rupee (INR) declines against the US Dollar (US) on Wednesday, sending the USD/INR higher to near 86.00. Investors were bracing for weakness in the Indian currency as the United States (US) President reiterated his threats to impose 10% tariffs on BRICS members for supporting anti-American policies. On Tuesday, US President Trump stated while speaking to reporters that the BRICS nations will be charged an additional 10% tariffs for challenging the status of the US Dollar as the world’s reserve currency. “BRICS was set up to degenerate our [US] dollar and take it off as the standard,” Trump said and added, “And that’s okay if they [BRICS] want to play that game, but I [Trump] can play that game too.” The development is unfavorable for the Indian currency at a time when India and the US are negotiating a trade pact in which the Asian giant vows to safeguard its agriculture and labor-intensive sectors from getting exposed to competition from US companies. Another reason behind the increasing selling pressure on the Indian currency is the announcement from US President Trump at the White House cabinet meeting that he will impose 200% tariffs on pharmaceutical products. The headline is unfavorable for the Indian Rupee, given that India exports a chunk of its pharmaceutical output to the US. “If they [companies from other nations] have to bring the pharmaceuticals into the country they’re going to be tariffed at a very, very high rate, like 200%. We’ll give them a certain period of time to get their act together,” Trump said.…

---

Filed under: News - @ July 9, 2025 6:27 am