President Donald Trump has announced a significant increase in tariffs on India, doubling them in response to the country's continued importation of Russian oil.
The President declared on Wednesday that tariffs on Indian goods would rise from 25% to 50% within 21 days unless India halts its importation of Russian petroleum products. This decision, outlined in a White House proclamation, comes as India remains a key consumer of Russian oil, importing approximately 1.75 million barrels daily from January to June this year, as reported by Reuters.
According to the Daily Caller, this move is part of President Trump's broader strategy to exert economic pressure on Russia amidst stalled negotiations with Russian President Vladimir Putin concerning the ongoing conflict in Ukraine. The United States has issued warnings of potential secondary tariffs on purchasers of essential Russian commodities if Putin fails to engage in negotiations by the end of the week. This tariff escalation is aimed at compelling Russia to reconsider its actions in Ukraine by targeting its economic allies.
In his proclamation, President Trump stated, "I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent."
This follows the initial 25% tariff imposed on India on July 30, where Trump emphasized that India could not continue its purchases of Russian oil and military equipment while the conflict in Ukraine persists.
President Trump has been vocal about his concerns regarding India's trade practices, particularly highlighting the high tariffs and non-monetary trade barriers that have historically hindered U.S.-India trade relations.
On Truth Social, he remarked, "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country."
He further criticized India's reliance on Russian military equipment and energy, stating, "Also, they have always bought a vast majority of their military equipment from Russia, and are Russias largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE ALL THINGS NOT GOOD!"
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