WASHINGTON: US President Donald Trump on Wednesday (Aug 6) ordered an additional 25 per cent tariff on goods from India for its purchases of Russian oil.
The tariff, set to take effect in three weeks, comes on top of a separate 25 per cent duty entering into force on Thursday, according to the text of the executive order released by the White House.
The order also threatens potential penalties on other countries deemed to be “directly or indirectly importing Russian Federation oil”.
Exemptions remain for items targeted by separate sector-specific duties such as steel and aluminium, and categories that could be hit, like pharmaceuticals.
The White House said the move was “necessary and appropriate”.
India’s foreign ministry said the decision was “extremely unfortunate” and that New Delhi will take all actions necessary to protect its national interests.
“Our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” it said in a statement.
“It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.”
