Trump raises India tariffs to 50% over Russian oil purchases

The White House announced on Wednesday that it brought 25% more tariffs to India and brought total taxes against the trade partner of the great United States to 50%.

“I think the Indian Government is currently importing oil directly or indirectly imported oil.” He said. executive order.

“Indian articles imported to the US Customs Region consistently with the laws in force and with the current laws are subject to an additional 25 percent advertisement Valorem task rate.”

According to the order, new tariffs will come into force within 21 days, while 25% tariffs announced earlier will enter into force on Thursday.

Trump’s new tariff rate in India is currently the highest tax on all US trade partners. The last sign that Trump continues to do good in his threat to punish the countries that bought Russian oil because President Vladimir Putin has increased Ukraine in recent weeks.

Last week, Trump said that imports from India would be a 25%tariff in addition to a “punishment” on the purchase of military equipment and energy from Russia. Then it was not clear how such a punishment could look.

Trump said on Tuesday that “they will significantly increase the tariff in India for the next 24 hours, because they are fueling the war machine for buying Russian oil.”

“And if they’re going to do that, then I will not be happy,” Trump said in CNBC’s “Squawk box”.

However, India, the US and the European Union “after the beginning of the conflict of Ukraine, the importation of oil from Russia,” he said.

“India reveals that the nations criticizing India themselves have fallen into trade with Russia,” the Indian Foreign Ministry said on Monday.

“Unlike our situation, such trade is not even a vital national coercion [for them]”he said.

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