US President Donald Trump has imposed an additional 25% tariff on Indian goods through an executive order, raising the total tariff to 50%, the White House announced on Wednesday.
The latest move comes in response to New Delhi’s continued purchase of Russian oil, according to the White House statement. This follows Trump’s earlier imposition of 25% tariffs on Indian exports to the US market.
In a CNBC interview on Tuesday, the US President hinted at the impending decision, stating: “India has not been a good trading partner because they do a lot of business with us, but we don’t do business with them. So we settled on 25%, but I think I’m going to raise that rate quite substantially in the next 24 hours,” Trump told CNBC.
“They’re fuelling the war machine, and if they’re going to do that, then I’m not going to be happy,” he added, referring to India’s decision to keep purchasing Russian oil.