
Washington: US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi’s continued buying of Russian oil.
Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect.
After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent.
While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days.
Days ago, the United States president had said he will “very substantially” raise tariffs on India over the next 24 hours if New Delhi did not stop buying oil from Russia. “India has not been a good trading partner, because they do a lot of business with us, but we don’t do business with them. So we settled on 25 percent (tariff), but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil. They’re fuelling the war machine. And if they’re going to do that, then I’m not going to be happy,” he had said.
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