Trump raises India tariffs to50% over Russian oil purchases

US President Donald Trump on Wednesday slapped an additional 25 per cent tariff, raising it to 50 per cent, on goods coming from India as penalty for New Delhi’s continued purchase of Russian oil, a move that is likely to hit sectors such as textiles, marine and leather exports hard.
The United States has imposed this additional tariff or penalty for Russian imports only on India while other buyers such as China and Turkey have so far escaped such measures.
The 30 per cent tariff on China and 15 per cent on Turkey is lower than India’s 50 per cent.
Reacting to the development, India said that these actions are “unfair, unjustified and unreasonable”.
It is extremely unfortunate that the US should choose to impose additional tariffs on India, the external affairs ministry said in a statement, adding India will take all actions necessary to protect its national interests.
Trump signed an executive order – Addressing Threats to the US by the Government of the Russian Federation – imposing the additional tariff over and above the 25 per cent levy which comes into effect from August 7.
After this order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent.