The White House has announced that US President Trump has issued an executive order in this matter. This new order has found that India is importing oil directly or indirectly from Russia.
Donald Trump imposed 25% additional tariff on India, know when it will be implemented
US President Donald Trump on Wednesday imposed an additional 25 percent tariff on India. Trump took this decision after being angry with India's purchase of oil from Russia. Earlier, Trump had threatened on Tuesday that he would increase the tariff on India very rapidly in the next 24 hours. With the implementation of this additional tariff, the tariff imposed by the US on India has now reached 50 percent. However, shortly after this announcement, India also retaliated and gave a befitting reply.
The Ministry of External Affairs of the Government of India responded to this shortly after. The Ministry said that in recent days the United States has targeted India's oil imports from Russia. We have already made our clear stand on these issues - which includes that India's oil imports are completely market-based, and its purpose is to ensure the energy security of India's 1.4 billion population.
In such a situation, it is extremely unfortunate that the US has chosen the path of imposing additional duty (tariff) on India, while many other countries are also adopting similar policies keeping in mind their national interests. We reiterate that this step taken by the US is unfair, unjust and irrational. India will take all necessary steps to protect its national interests.
What Trump said in the executive order
President Donald Trump said in an executive order that "I find that the Government of India is directly or indirectly importing Russian oil." The order further states that "given that, and in accordance with applicable laws, an additional 25 percent tariff will be imposed on goods imported into the United States from India." Trump also indicated last week that India would have to pay a 25% tariff as well as a "penalty" for buying military equipment and energy from Russia. However, it was not clear at the time what form this penalty would take.
US President Donald Trump on Tuesday clearly stated that he would not be happy if India buys oil from Russia. Trump said that they (India) are buying Russian oil, they are fueling the war machine. If they do this, I will not be happy at all. The new tariff imposed by Trump on India is one of the highest tariffs imposed on any other trading partner of America. This is part of his stance in which he threatened to punish countries buying oil from Russia.
The total tariff on Indian goods will be 50 percent
Trump signed the executive order to impose additional tariffs less than 14 hours before his initial tariffs come into effect. According to reports, Trump signed the order to impose additional tariffs less than 14 hours before his initial tariffs come into effect. After this, the total tariff on Indian goods will be 50 percent, except for some exempted goods. The initial tariff is effective from August 7, while the additional duty will come into effect 21 days later.
About the Author:
Akshay Thakur
I'm Akshay Thakur, your fantasy sports secret weapon. 1000+ predictions across cricket, kabaddi, football, you name it - I crack the code of each game, crafting winning strategies like a seasoned alchemist. My analyses are your ultimate playbook, unveiling hidden gems and turning gut feelings into gold. Newbie or pro, I level up your game, transforming raw passion into league domination.
I am a fan of MI in IPL. My favorite player is Rohit Sharma.
So, join me, unravel the wins, and paint your fantasy realm with victories. Remember, in this game, it's not just about luck, it's about having the right guide. And with me, you're unstoppable.
