Donald Trump Imposes Another 25 Percent Tariff on India; There Will Also Be a Fine
The tariff imposed by the US on Indian goods has now increased to 50 percent
US President Trump has increased the 25 percent tariff imposed on India by another 25 percent.
Indian media claimed with reference to the White House that the total US tariff on India is now 50 percent.
A statement issued by the White House said that US President Trump has imposed another 25 percent tariff on India’s continued purchase of Russian oil.
The statement said that Trump also signed an executive order for an additional 25 percent tariff on India. The new additional tariff will come into effect from August 27.
In his post, Trump described India as one of the countries that impose the highest tariffs in the world and said that India has also imposed non-financial trade barriers that are against American interests.
President Trump also expressed concern over India’s purchase of defense equipment and energy from Russia, saying that India is Russia’s largest energy buyer, which is a violation of global sanctions. He clarified that in addition to this, additional penalties will be imposed on India along with tariffs.
It may be recalled that yesterday, President Trump had said that if India does not stop, more tariffs will be imposed on it in the next 24 hours.
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