US doubles tariffs on India to 50% over Russian oil imports
The administration had already enforced a 25 per cent tariff from August 1, alleging India's sustained oil trade with Russia violated US efforts to economically isolate Moscow amid its ongoing war in Ukraine. The latest order, issued under emergency economic powers, adds another 25 per cent tariff and signals the US may consider similar penalties on other countries found importing Russian oil.
The White House has announced an additional 25 per cent tariff on Indian imports, raising the total levy to 50 per cent, effective August 27. President Donald Trump cited India's continued purchase and resale of Russian oil as undermining US sanctions on Moscow. The Executive Order excludes certain products and signals potential future penalties for other nations trading with Russia.
'India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits,' President Trump said in a statement, accusing New Delhi of directly undermining US national security interests and foreign policy goals. 'Because of this, I will be substantially raising the tariff paid by India to the USA.'
The Executive Order underscores that these tariffs will be imposed in addition to any existing duties, and explicitly excludes products listed under Annex II of Executive Order 14257 issued on April 2, 2025. It also tasks the Commerce Secretary, in coordination with other key officials, to monitor and recommend actions against other nations engaged in similar practices.
President Trump maintained that the heightened tariffs are part of a broader strategy to end the conflict. 'The Russian Federation would not be facing these actions if they were to get a deal where people stop getting killed,' he said.
In a statement on Monday, India called Trump's threat to raise tariffs over its Russian oil imports 'unjustified and unreasonable.' The Ministry of External Affairs defended its energy trade as a necessity due to Europe-bound supply shifts and noted that the US had earlier supported such imports.
The United States continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its electric vehicles industry, fertilisers as well as chemicals, the ministry added.
Fibre2Fashion News Desk (KD)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
4 minutes ago
- Hindustan Times
‘Is he worthy of lunch with Trump': Congress slams Pak Army chief Asim Munir's nuclear threat from US
Congress on Monday slammed Pakistan Army chief Asim Munir's nuclear threat against India, those who do not support India on 'Operation Sindoor' should also wake up. File photo: Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR)(REUTERS) Pakistani military chief, Field Marshal Asim Munir, made a threat from the United States, saying that Islamabad would take down "half the world" with it, if his country faces an existential threat in future with India. 'We are a nuclear nation, if we think we are going down, we'll take half the world down with us,' reports quoted Asim Munir as saying at the event in Tampa. 'Direct threat to Trump', says Congress Backing Operation Sindoor and the Indian and the Indian Army, Congress MP Pramod Tiwari said on Asim Munir's statement, 'We are very proud of our Indian army. Pakistan has been exposed. Now the whole world knows what intention Pakistan have. So the world should wake up. Those who do not support India on 'Operation Sindoor' should also wake up.' "We are confident that we will protect India, but this is a direct threat to Trump and Russia. Is the person who has threatened to destroy half the world worthy of sitting and eating lunch with you? Are you entertaining him? This is a dangerous statement. The United Nations Security Council should take cognisance of this," Tiwari said, speaking to ANI news agency. Another Congress MP, Sukhdeo Bhagat, said India knows its power, its limitations, and how to respond, adding that Munir's statement also threatens Donald Trump. "The clouds that thunder do not rain. India knows its power, its limitations, and how to respond. The way he (Asim Munir) is making all these statements while in America also threatens Trump. Speaking such violent words, and with Trump currently trying to portray himself as a peace messenger, raises the question of what Trump will say. Therefore, Trump should consider these things. India does not need to worry about them. India is capable of giving answers...," Sukhdeo Bhagat said. Addressing the Pakistani diaspora in Florida's Tampa, Asim Munir also repeated is anti-India rhetoric, saying "Kashmir is the jugular vein" of Pakistan". Weeks before the April 22 Pahalgam attack, Munir said Pakistan will not forget the issue of Kashmir, asserting, "It was our jugular vein." Trashing his comments, India had said, "How can anything foreign be in a jugular vein? This is a union territory of India. Its only relationship with Pakistan is the vacation of illegally occupied territories by that country."
Time of India
4 minutes ago
- Time of India
‘No To Dadagiri': Union Minister Nitin Gadkari Slams US Tariffs, Calls For Tech Power, Export Growth
'Will Take Half The World Down With Us': Pak Army Chief Munir's Nuclear Threat From U.S. Pakistan Army chief Field Marshal Asim Munir, during his ongoing visit to the US, reportedly made provocative remarks at a private event in Tampa, Florida. Sources in India confirmed media reports quoting Munir as saying, 'We are a nuclear nation. If we go down, we'll take down half the world with us.' He also warned of destroying an Indian dam with 10 missiles if constructed, while commenting on the Indus Waters Treaty. Officially, Munir is in the US to attend the retirement of CENTCOM chief Gen Michael Kurilla and the change of command ceremony for Admiral Brad Cooper.#pakistanarmychief #asimmunir #nuclearthreat #induswaterstreaty #indopakrelations #usvisit #centcom #pakistannukes #indiapakistan #geopolitics #tampaflorida #michaelkurilla #toi #toibharat 276 views | 48 minutes ago
India.com
4 minutes ago
- India.com
Indian Rupee Strengthens Against Us Dollar Despite Tariff Concerns
New Delhi: The Indian rupee opened stronger on Monday, amid additional 25 per cent tariff proposed by US President Donald Trump on India, which is set to take effect from August 27. The rupee likely inched up higher on optimism that the Russia-Ukraine war will end following the upcoming US-Russia negotiations on August 15, leading to removal of additional tariffs on India. The local currency opened 13 paise stronger at 87.53 against the US dollar up from 87.66 on Friday. The immediate trading range is expected to be between 87.25 and 87.80, according to analysts. The Indian rupee was expected to open with small gains today at 87.51, while markets are awaiting US and domestic inflation data. Indian markets are focused on domestic CPI and WPI inflation data, set to be released on August 12 and August 14. Additional tariffs, if implemented, are expected to put pressure on the Indian rupee against the US dollar in the short term due to reduced export revenues, capital outflows, and inflationary pressures. US' new tariffs on India are expected to affect sectors such as textiles, leather, and seafood. India sharply criticised the tariffs, calling it "unfair and unreasonable". US has singled out India for the harshest tariff rate of 50 per cent, compared to 30 per cent for China and 15 per cent for Turkey, despite all three countries importing Russian oil. Brent oil prices dropped to $66.25 per barrel in Asian trade on Monday morning, continuing last week's significant declines as traders anticipated upcoming talks between Russia and the US will ease the Ukraine conflict. China released soft inflation data and economic indicators in July, indicating that the economy was recovering slowly, leaving oil markets largely pessimistic about future demand. FII selling persisted during the week in Indian equity markets, indicating broader risk aversion in emerging markets. However, ongoing purchases by DIIs helped mitigate losses.
