Trump Raises Tariffs on India
As reported by the White House, the directive underscores a broader strategy to counter what Trump has labeled a “national emergency.”
“To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil," stated the executive decree.
This new tariff policy will come into effect 21 days after the signing of the order. It designates Commerce Secretary Howard Lutnick—working in tandem with Secretary of State Marco Rubio and Secretary of the Treasury Scott Bessent—to assess whether any other nation is “directly or indirectly” engaged in the importation of Russian oil.
“If the Secretary of Commerce finds that a country is directly or indirectly importing Russian Federation oil,” he, consulting with other officials, “shall recommend whether and to what extent I should take action as to that country, including whether I should impose an additional ad valorem rate of duty of 25 percent on imports of articles of that country," the order elaborates.
On Tuesday, Trump emphasized that the US would "make that determination" on implementing penalties against nations continuing to procure Russian petroleum following deliberations held between US special envoy Steve Witkoff and Russian representatives in Moscow.
Trump has criticized India for what he claims is generating gains by re-selling Russian oil in the international marketplace.
In response, Indian officials called the move “extremely unfortunate,” highlighting that Trump raised duties to 50% on Indian products due to “actions that several other countries are also taking in their own national interest.”
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
