US Edition
Trump imposes additional 25% tariff on India over Russian oil purchases
UNITED STATES, AUG 7 – The U.S. raised tariffs on Indian imports to 50% to pressure India to halt Russian oil purchases that fund Moscow's war in Ukraine, intensifying trade tensions between the two countries.
- On August 6, President Donald Trump issued an executive order that imposed an extra 25% tariff on India due to its purchase of Russian oil, with the tariffs set to take effect on August 27.
- The tariff was implemented due to US worries over national security and diplomatic issues linked to India's rising purchases of Russian oil, even as allied nations promoted efforts to stabilize the global energy market.
- India’s Foreign Ministry condemned the move as unfair, unjustified, and unreasonable, asserting imports reflect market factors to ensure energy security for 1.4 billion people.
- The tariff will make Indian exports costlier, risking a 40%-50% drop, and places India among the most heavily taxed US trading partners, surpassing China and Vietnam.
- Indian politicians called for reciprocal tariffs and a diplomatic reassessment, stressing protection of national interests amid concerns over trade relations and economic growth slowing.
379 Articles
379 Articles
India exporters say 50% Trump levy a ‘severe setback’
Indian exporters warned on Thursday that the cost of additional US tariffs risked making businesses "not viable" after President Donald Trump ordered steeper levies totalling 50 percent on imported Indian goods. Prime Minister Narendra Modi said he was willing to "pay a great personal price", while opposition Congress party leader Rahul Gandhi called the levies
Indian refiners are awaiting guidance from the government on whether to continue buying Russian oil following the US decision to impose additional duties of 25% on Indian goods.
Indian MP Blasts Trump Over Tariffs on Russian Oil Imports
Indian MP Blasts Trump Over Tariffs on Russian Oil Imports Revolutionary Socialist Party MP NK Premachandran has launched a blistering attack on US President Donald Trump following the imposition of a 25% additional tariff on India over its purchases of Russian oil. In a statement to ANI, Premachandran described Trump's decision as inconsistent and a direct affront to India's sovereign rights. He assertively stated, "There is no consistency in t…
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