President Trump announced on Wednesday that he would increase the tariff by 25 percent on India over India, making him 50 percent to 50 percent of the total tariffs imposed on New Delhi.
Trump signed an executive order, which makes an increase in tariffs, although it is not effective for one and three weeks. 25 percent growth is at the top of 25 percent “Mutual” tariff Trump announced India last week, which is ready to be effective on Thursday.
Trump threatened to increase the tariff on India on the purchase of Russian oil earlier this week, arguing that it was promoting Moscow’s war efforts in Ukraine. But the President did not specify how high the tariff he would impose.
“They are buying Russian oil, they are fueling the war machine. And if they are going to do so, I am not going to be happy,” Trump said about India during an interview with CNBC on Tuesday.
India on Monday pushed back On the risk of Trump’s high tariff, there was a “requirement” to keep the cost of Russian oil stable.
The Ministry of External Affairs said in a statement, “Like any major economy, India will take all necessary measures to protect its national interests and economic security.”
Trump campaigned on the pledge to end the war in Ukraine, but has been unable to do so. He has been rapidly disappointed with Russian President Vladimir Putin amidst Russian drone strikes in Ukrainian cities in recent weeks. Trump is Expected to be implemented Additional restrictions on Russia in the coming days.
