Trump threatens 50% tariffs on India for buying Russian oil
U.S President Donald Trump has issued an executive order hitting India with an additional 25% tariff over its purchases of Russian oil.
That will raise the total tariff on Indian imports to the United States to 50%, among the highest rates imposed by the U.S.
The new rate will come into effect in 21 days, Which is August 27, according to the executive order.
A response from India’s foreign ministry on Wednesday said Delhi had already made clear its stance on imports from Russia, and reiterated that the tariff is “unfair, unjustified and unreasonable”.
The U.S president had earlier warned he would raise levies, saying India doesn’t “care how many people in Ukraine are being killed by the Russian War Machine”.
On Wednesday, the White House said in a statement that the “Russian Federation’s actions in Ukraine pose an ongoing threat to U.S national security and foreign policy, necessitating stronger measures to address the national emergency”.
It said India’s imports of Russian oil undermine U.S efforts to counter Russia’s activities in Ukraine.
