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Hi there from CNN. I'm Charlie Drever with the five things you need to know for Wednesday,

August 27th.

President Donald Trump's 50% tariffs on India are now in effect, making them among the highest

U.S. charges across all countries. It's a move that could endanger relations with one of

America's most important trading partners, and push up consumer prices from jewelry to jeans.

So, how did we get here?

Here's CNN, Zanakubin.

After Russia invaded Ukraine in 2022,

and Europe started sanctioning Russian oil,

Russia focused on selling its barrels to Asia,

and India became a big customer.

By June this year, nearly 47% of Russian crude oil had been sent to China, and around 38%

had been sent to India.

Now, last month, Trump announced secondary sanctions on countries purchasing this oil.

...