Trump slams India with extra 25% tariff for purchasing Russian oil
The United States President, Donald Trump has issued an executive order on Wednesday slamming India with extra 25% tariff as a result of its purchase of Russian oil.
According to the executive order, the new rate shall be “effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 21 days after the date of this order.”
President Donald Trump had forewarned India of increasing its levies should it continue to empower Russia through patronage, Â stating that India “don’t care how many people in Ukraine are being killed by the Russian War Machine”.
This development will increase the total tariff on Indian imports into the United States to 50%.
