Washington: US President Donald Trump has signed an executive order imposing an additional 25 per cent tariff on goods imported from India, effectively doubling the total tariff to 50 per cent. The move comes in response to India\u2019s continued purchase of Russian oil, which the US claims undermines Western sanctions.<\/p>\n
The White House said the new measure was \u201cnecessary and appropriate\u201d to penalise India for directly or indirectly importing Russian oil. Some goods will be exempt from the hike, but most Indian exports to the US will now face a 50 per cent tariff.<\/p>\n
According to the order, the initial 25 per cent tariff will come into effect from August 7, while the additional 25 per cent will be implemented 21 days later.<\/p>\n
A day earlier, Trump had warned of a “significant” increase in tariffs on Indian goods. He also accused India of buying Russian oil at discounted rates and selling it in the open market at a profit. Speaking to CNBC, Trump said, “India has not been a good trading partner.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington: US President Donald Trump has signed an executive order imposing an additional 25 per cent tariff on goods imported from India, effectively doubling the total tariff to 50 per cent. The move comes in response to India\u2019s continued purchase of Russian oil, which the US claims undermines Western sanctions. The White House said the […]<\/p>\n","protected":false},"author":4,"featured_media":47438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60,19,21],"tags":[7439,7438],"class_list":["post-47437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-latest","category-political-news","tag-effectively-doubling-the-total-tariff-to-50-per-cent-the-move-comes-in-response-to-indias-continued-purchase-of-russian-oil","tag-washington-us-president-donald-trump-has-signed-an-executive-order-imposing-an-additional-25-per-cent-tariff-on-goods-imported-from-india"],"yoast_head":"\n