Trump Enforces 25 Percent Tariff on Indian Imports
(MENAFN) On Wednesday, U.S. President Donald Trump signed an executive order that enforces an additional 25% tariff on goods imported from India. This move, announced by the White House, is a direct response to India’s ongoing purchases of Russian oil.
The new tariff will take effect 21 days after the announcement, pushing the total U.S. tariffs on Indian products to a staggering 50%.
Earlier on Monday, Trump had warned of a "substantial" increase in tariffs against Indian imports, specifically pointing to India’s continued acquisition of Russian oil as the catalyst.
India’s Ministry of External Affairs promptly countered Trump’s threat with a statement, declaring that "the targeting of India is unjustified and unreasonable." The ministry explained that India’s oil imports are necessary to "ensure predictable and affordable energy costs" for its population.
The statement also emphasized that India turned to Russian oil after traditional sources were redirected to Europe following the Russia-Ukraine conflict. It further noted that "the United States at that time actively encouraged such imports by India for strengthening global energy markets stability."
On July 29, Trump set a 10-day ultimatum for Russia to agree to a ceasefire in Ukraine. The recent tariff hike on Indian goods is viewed as an extension of the U.S.’s broader strategy to exert pressure on Russia.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
