Trump imposes extra 25% tariff on India over Russian oil, total levy 50% – Alfaaz – The Words

New Delhi: US President Donald Trump on Wednesday announced an extra 25 per cent trade tariff on India after it warned the country of action over its oil purchases from Russia, taking the total levy to 50 per cent. The additional tariffs will be applicable after 21 days from today, which will be August 27, the order said.

The original 25 per cent levy on Indian imports into the US in retaliation to India’s tariffs on US goods came into effect on August 1.

Signing an Executive Order in this direction on Wednesday, Trump imposed an additional 25 per cent tariff on its South Asian trade partner in response to its continued purchase of Russian oil.

This came a day after Trump upped the ante on India over its purchase of oil from Russia, warning of levying additional tariffs within the next “24 hours.”

Trump signed a nine-section order on Wednesday, outlining the details of various aspects, like the background, the tariffs, the scope of duties and stacking, among others.

Expanding further on the background, Trump spoke about various legislation in effect in the US restricting the import of Russian goods, including energy and oil, for waging a war against Ukraine, and “adversely affecting” America’s foreign policy.

“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,” the order further said.

Stressing that he found that India was directly or indirectly importing Russian oil, the order said that Indian imports into the US should be subject to the additional tariff with effect from 21 days after the date of the latest order. Goods that were already in transit on the final mode of transit prior to entry into the US were exempted from the deadline.

Continuing his tariff tirade against its trade partners, including India, Trump warned that if anyone retaliated against the US in response to this action, “I may modify this order to ensure the efficacy of the actions herein ordered”.

Trump also marshalled his troops and ordered all the key departments of his administration and their presiding secretaries to identify if any other countries are importing Russian oil and suggest to him the extent of tariffs he should levy on them as well.

The Trump order further said, “The term “Russian Federation oil” means crude oil or petroleum products extracted, refined, or exported from the Russian Federation, regardless of the nationality of the entity involved in the production or sale of such crude oil or petroleum products”.

He also explained what “indirectly importing” meant, saying it included purchasing Russian Federation oil through intermediaries or third countries where the origin of the oil can reasonably be traced to Russia.

Earlier, Trump not only said that India was purchasing “large amounts” of Russian oil but also accused the country of “profiteering” by selling the same on the open market. “They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!”

Reacting strongly to Trump’s allegations and the attack for “buying” Russian oil, India slammed the US and the European Union, who also once asked India to buy Russian oil and energy, for buying large amounts of Russian goods, including oil.