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In the latest escalation of the tariff war, US President Donald Trump has signed an executive order imposing an additional 25 per cent tariff on India in response to its continued purchase of Russian oil, effective August 27, Zee Business reported.
The move follows Trump’s earlier warning, issued just a day prior, threatening to raise the existing 25 per cent levy on Indian imports within 24 hours over New Delhi's continued oil trade with Russia, accusing the country of fueling what he called "Russia's war machine."
On Monday, India responded sharply, calling the persistent targeting by the United States and the European Union over its Russian oil imports “unjustified and unreasonable.”
Trump, in a statement, claimed that India was purchasing and reselling Russian oil on the open market “for big profit,” and declared that Washington would substantially increase tariffs on Indian goods as a consequence
Here’s what the American president said in the executive order against India
Trump, in his executive order imposing an additional 25 per cent tariff on Indian imports, cited India’s continued purchase of Russian oil as the primary reason for the move. The order, which comes into effect on August 27, outlines the rationale behind the decision and ties it to the broader national emergency declared in Executive Order 14066.
“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” Trump remarked in the executive order.
“Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent,” the executive order read.
Further justifying the decision, the president stated: "I have received additional information from various senior officials on, among other things, the actions of the Government of the Russian Federation with respect to the situation in Ukraine. After considering this additional information, among other things, I find that the national emergency described in Executive Order 14066 continues and that the actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States."
"To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil. In my judgment, imposing tariffs, as described below, in addition to maintaining the other measures taken to address the national emergency described in Executive Order 14066, will more effectively deal with the national emergency described in Executive Order 14066."
English (US) ·