On August 6, US President Donald Trump signed an executive order imposing an additional 25% tariff on goods from India.
Points of attention
- US President Donald Trump imposed a 25% tariff on goods from India in response to their purchase of Russian oil.
- The additional tariffs are expected to impact trade relations between the United States and India.
- The White House may impose similar duties on other countries importing Russian oil.
- The new tariff rate will be applied to goods entering the US market starting at 12:01 a.m. 21 days after the date of publication of the decree.
US imposes new tariffs on goods from India
The White House said that additional tariffs against India were imposed due to its purchase of Russian oil.
The department added that the administration may impose similar duties on other countries that import Russian oil.
The relevant decree cites Trump's words regarding the resolution of the national emergency described in Executive Order 14066.
I consider it necessary and appropriate to introduce an additional ad valorem duty on imports of goods from India, which directly or indirectly imports oil from the Russian Federation.
Donald Trump
President of the United States
According to the decree, this tariff rate will be applied to goods entering the US market starting at 12:01 a.m. 21 days after the date of publication of the decree.
The measure concerns imports from India of goods related to Russian oil.
"If the Government of the Russian Federation or a foreign state to which this order applies takes significant steps to address the national emergency described in Section 1 of this order and achieves sufficient alignment with the United States on national security, foreign policy, and economic matters, I may make additional amendments to this order," Trump noted.
