In retaliation for purchasing Russian energy, US President Donald Trump has signed an executive order levying an extra 25% duty on Indian imports. India is already subject to a 25 per cent duty, and Wednesday’s increase puts it in one of the highest import tax levels in the US under Trump, reaching a total of 50 per cent.
Trump stated in his executive order that increased tariffs on India, a significant buyer of Russia’s petroleum products, were “necessary and appropriate” due to the country’s ongoing military activities in Ukraine, which he described as a “national emergency.
The Russian Federation’s government’s actions and policies continue to provide an exceptional threat to American foreign policy and national security. There is still time for India and the US to negotiate a lower rate before the tariff rise takes effect 21 days after it is announced.
However, the action might make relations between the US and India much more difficult. The only other nation subject to a 50% total tariff rate is Brazil. In a swift statement in response to Trump’s executive order, India’s Ministry of External Affairs denounced the tariffs as “unfair, unjustified, and unreasonable.
Also Read:
According to a White House Official, Apple will Commit $100 Billion to US Manufacturing
At The age of 90, Former MI5 Director General Dame Stella Rimington Passes Away
