WASHINGTON: US President Donald Trump issued an govt order on Wednesday (Aug 6) imposing an extra 25 per cent tariff on items from India, bringing the whole to 50 per cent.
“I discover that the federal government of India is presently immediately or not directly importing Russian Federation oil,” he stated in an govt order.
The White Home stated the transfer was “vital and applicable”.
This comes after Trump stated on Tuesday he would enhance the tariff on imports from India “very considerably” over the following 24 hours and alleged that New Delhi’s purchases of Russian oil have been “fuelling the conflict” in Ukraine.
The tariff is ready to take impact in three weeks and could be added on high of a separate 25 per cent tariff coming into into drive on Thursday.
It maintains exemptions for objects focused by separate sector-specific duties equivalent to metal and aluminium, and classes that might be hit, like prescription drugs.
This can be a creating story, please refresh for updates.
