Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
US President Donald Trump meets with Indian Prime Minister Narendra Modi at the White House Owl in Washington, Columbus County
Jim Watson | AFP | Gets the image
The White House announced on Wednesday that imposes An additional 25% tariff In India, attracting common US trading partner up to 50%.
“I believe the Indian government is currently directly or indirectly importing the oil of the Russian Federation,” the president Donald Trump said in Executive order.
“Accordingly, in accordance with the current legislation, the articles of India, which are imported into the Customs territory of the United States, are subject to an additional promotional rate of 25 percent duty,” the executive order said.
The new tariffs should come into force in 21 days, according to the order.
Last week, Trump said India would pay a 25%tariff except for “punishment” for the country’s military equipment and energy in Russia. At the time, it was unclear what such a punishment might look.
Trump on Tuesday signaled that he would raise the tariff for India “very significantly over the next 24 hours because they buy Russian oil, they feed the military machine.”
“And if they are going to do it then I won’t be happy,” Trump said CNBC’s box “Squawk“
Trump’s new tariff rate in India is now one of the highest fees in all US trading partners. This is the last sign that Trump is moving to the good on his The threat of punishment of countries which buy Russian oil because it has increased its rhetoric in recent weeks over the president Vladimir Putin Invading Ukraine.
This is conducting the news. Please update updates.
