US Edition
Trump imposes additional 25% tariff on India over Russian oil purchases
UNITED STATES, AUG 6 – The 50% tariff targets nearly $64 billion of Indian exports amid US efforts to penalize India for buying Russian oil, challenging bilateral trade relations and economic ties.
- Trump signed an executive order to impose an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the U.S. on its ally to 50%.
- The Indian government called the additional tariffs unfortunate and said it would take all actions necessary to protect its interests.
- A former Indian trade official said Trump's decision was hypocritical because China bought more Russian oil than India did last year.
287 Articles
287 Articles
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.
'You're going to see a lot more': Trump warns of secondary sanctions after additional 25% tariff on India
Hours after imposing an additional 25 per cent tariff on Indian imports, bringing the total tariff to 50 per cent, US President Donald Trump issued a fresh warning to India regarding its ongoing oil trade with Russia. He hinted that more "secondary sanctions" could be imposed shortly on India over its continued purchase of oil from Russia. Trump's remarks come amid mounting US pressure on nations to reduce or sever economic ties with Russia foll…
The United States is doubling trade tariffs on Indian goods to 50 percent, Donald Trump announced in a presidential order on Wednesday. The reason for the decision is the country's imports of Russian oil. - I note that the Government of India is currently directly or indirectly importing oil from Russia, Trump writes in the order.
Trump announces 50% tariffs on India for buying Russian oil
US President Donald Trump on Wednesday imposed an additional 25% tariff on imports from India in reprisal for buying Russian oil, bringing the total surcharge to 50%. Washington claims Prime Minister Narendra Modi's Government was 'fueling the war machine' by funding Russia's military deployment in Ukraine.
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