US imposes additional 25% tariff on India amidst trade tensions over Russian oil deals
Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially'
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US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi’s continued buying of Russian oil.
Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect.
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Also read: Addressing threats to the United States by the government of the Russian federation
After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent.
While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days.
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Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi “very substantially” over the next 24 hours because it is buying Russian oil.
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