logo
‘Extremely unfortunate': India reacts strongly to Donald Trump's 25% additional tariff for buying Russian oil; ‘will take all actions necessary…'

‘Extremely unfortunate': India reacts strongly to Donald Trump's 25% additional tariff for buying Russian oil; ‘will take all actions necessary…'

Time of India06-08-2025
Donald Trump doubles tariffs on India to 50%
India has responded strongly to US President Donald Trump's move on Wednesday to impose an additional 25% tariff on India for its crude oil procurement from Russia. The ministry of external affairs in a statement called the US move 'unfortunate' and reiterated that stand that India would continue to protect its national interests.
In a strongly worded statement, the MEA said, "..it is extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest."
Trump signed an executive order on Wednesday announcing that India will face an extra 25% tariff over and above the 25% rate announced last week. While the 25% rate is effective from August 7, 2025, the newly announced additional tariff will come into place 21 days from now.
Experts are of the view that this move by the Donald Trump administration leaves room for trade deal negotiations and talks.
Also Check |
Donald Trump doubles India tariff rate to 50%: Live Updates
Under the revised tariff structure, India and Brazil will face the highest tariff rate of 50% in the US market. This places India at a competitive disadvantage compared to other nations with lower duty rates: Myanmar (40%), Thailand and Cambodia (36%), Bangladesh (35%, Indonesia (32%), China and Sri Lanka (30%), Malaysia (25%), Philippines and Vietnam (20%).
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
The Best Method for a Flat Stomach After 50 (It's Genius!)
Lulutox
Undo
India reacts strongly to Trump's 25% additional tariff
Below is the full text of the ministry of external affairs statement on the latest additional 25% tariff on India for buying Russia crude oil:
1. The United States has in recent days targeted India's oil imports from Russia.
2. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.
3. It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.
4. We reiterate that these actions are unfair, unjustified and unreasonable.
5. India will take all actions necessary to protect its national interests.
Trump's pressure tactics on India
Trump issued an executive order titled "Addressing Threats to the US by the Government of the Russian Federation" that implements additional customs duty.
Following this directive, Indian imports to the US, except for a limited exclusion list, will face a combined tariff of 50%.
"The ad valorem duty imposed...shall be in addition to any other duties, fees, taxes, exactions, and charges applicable to such imports...," the order said.
The base tariff will take effect from August 7, whilst the supplementary charge will be implemented after 21 days, on August 27.
"I find that the Government of India is currently directly or indirectly importing Russian Federation oil.
Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent," it said.
Also Read |
Reality check for Trump's tariff threats! US, Europe continue to import billions worth of goods from Russia; where does India stand?
Donald Trump administration has earlier accused India of helping 'finance' Russia's war against Ukraine through its oil trade. Trump government officials have said that India's procurement of Russian crude oil has emerged as an 'irritant' in the ties between India and the US.
India imports approximately 88% of its crude oil requirements from international markets, which is subsequently processed into fuels such as petrol and diesel. Prior to 2021, Russian oil constituted a mere 0.2% of India's total crude imports. Following Russia-Ukraine war, Indian refineries took advantage of discounted Russian oil, which was available at lower prices due to western sanctions. Currently, Russia has emerged as India's foremost oil supplier.
During July, India's daily oil imports reached approximately 5 million barrels, with Russian supplies accounting for 1.6 million barrels.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump-Zelensky Meet Tomorrow, Europe Plans A Backup To Help Ukraine
Trump-Zelensky Meet Tomorrow, Europe Plans A Backup To Help Ukraine

NDTV

time15 minutes ago

  • NDTV

Trump-Zelensky Meet Tomorrow, Europe Plans A Backup To Help Ukraine

Ukrainian President Volodymyr Zelensky may not be alone when he reaches Washington on Monday for his meeting with US President Donald Trump, amid global efforts towards bringing an end to the three-year-long Russia-Ukraine war. The Zelensky-Trump meeting follows the US President's Alaska summit with Russian President Vladimir Putin, which was billed as historic by both leaders but failed to come up with any immediate solution to the war. In contrast, this would be Zelensky's first visit to the US since February, when the two leaders had an ugly showdown, with Trump accusing him of being "disrespectful". To save Zelensky from being ambushed by Trump like last time, European leaders are reportedly planning to send a representative to accompany the Ukrainian leader. Finnish President Alexander Stubb or NATO Secretary General Mark Rutte could accompany him, reported Politico. Both Stubb and Rutte maintain a rapport with Trump and act as diplomatic buffers. The idea behind sending one of them, the report said, is to prevent any showdown between Trump and Zelensky and ensure Europe is not left out in their further discussions on Ukraine. European leaders are on edge after Trump's warm reception for Putin in Alaska and are now worried that Zelensky might face a tougher, colder welcome at the White House. Besides, memories of their tense March encounter still linger, and European leaders fear Trump may once again ambush Zelensky with demands for territorial concessions. In Monday's meeting, both Europe and Ukraine would try to ensure that Trump does not agree to Putin's demands, including the accession of any Ukrainian territory. According to a source who spoke to AFP, Trump already backs a Russian proposal for Moscow to seize control of two Ukrainian regions, besides freezing the front line in two other places where Moscow holds only partial control. Reports suggest Trump has informed Zelensky of Russia's proposal to freeze most of the frontlines if he ceded all of Donetsk, but the Ukrainian leader rejected the demand. Following his "very productive" meeting with Putin last Friday, Trump has said that the onus now lies on Zelensky to secure a peace deal. Trump has also reportedly sought a three-way meeting with Putin and Zelensky, but Moscow hasn't publicly committed to any such summit yet.

On Ambedkar, Hindutva and more: 10 non-fiction works in contention for NIF Book Prize 2025
On Ambedkar, Hindutva and more: 10 non-fiction works in contention for NIF Book Prize 2025

Indian Express

time15 minutes ago

  • Indian Express

On Ambedkar, Hindutva and more: 10 non-fiction works in contention for NIF Book Prize 2025

Kamaladevi Chattopadhyay NIF Book Prize Longlist: The New India Foundation (NIF) on Saturday released the longlist for the 2025 Kamaladevi Chattopadhyay NIF Book Prize, featuring 10 works of nonfiction on modern and contemporary India. Instituted in 2018, the Kamaladevi Chattopadhyay NIF Book Prize (KCBP) is regarded as India's leading award for nonfiction. It is open to writers of all nationalities for works on any aspect of Indian history since Independence, in English or in translation. The winner will receive a cash award of Rs 15 lakh. The 2025 longlist was selected by a jury comprising N Chandrasekaran, chairman of Tata Sons; entrepreneur Manish Sabharwal; political scientist Niraja Gopal Jayal; historian Srinath Raghavan; lawyer Rahul Matthan; Ambassador Jawed Ashraf; and policy scholar Yamini Aiyar. 📌Savarkar and the Making of Hindutva by Janaki Bakhle 📌 India's Forgotten Country: A View from the Margins by Bela Bhatia 📌 Iru: The Remarkable Life of Irawati Karve by Urmilla Deshpande and Thiago Pinto Barbosa 📌 India's Near East: A New History by Avinash Paliwal 📌Gods, Guns and Missionaries: The Making of the Modern Hindu Identity by Manu Pillai 📌 Engineering a Nation: The Life and Career of M Visvesvaraya by Aparajith Ramnath 📌 The Backstage of Democracy: India's Election Campaigns and the People Who Manage Them by Amogh Dhar Sharma 📌 Kamaladevi Chattopadhyay: The Art of Freedom by Nico Slate 📌 Iconoclast: A Reflective Biography of Dr Babasaheb Ambedkar by Anand Teltumbde 📌 The Gujaratis: A Portrait of a Community by Salil Tripathi 'The 8th edition longlist … features works distinguished by their research and craft, and their ability to weave the threads of the past into the challenges and debates of the present,' Jayal said in a statement on behalf of the jury. Named after Kamaladevi Chattopadhyay, a freedom fighter and institution-builder, the prize is intended to encourage rigorous and accessible nonfiction writing on India. Past winners include Ashok Gopal (2024) for A Part Apart: The Life and Thought of B R Ambedkar, Akshaya Mukul (2023) for Writer, Rebel, Soldier, Lover: The Many Lives of Agyeya, and Shekhar Pathak (2022) for The Chipko Movement: A People's History.

Watch August 21–22 for possible market trend shift: Harshubh Mahesh Shah
Watch August 21–22 for possible market trend shift: Harshubh Mahesh Shah

Economic Times

time15 minutes ago

  • Economic Times

Watch August 21–22 for possible market trend shift: Harshubh Mahesh Shah

The Indian market ended its six-week losing streak, with Nifty50 gaining over 1% for the week ended August 14. Key support and resistance levels, along with intraday time clusters, highlighted precise trading opportunities. Traders should watch August 18–22 for potential reversals or trend shifts, focusing on highlighted Nifty zones for decision-making. Tired of too many ads? Remove Ads Price Levels in Action Tired of too many ads? Remove Ads Time Cluster Accuracy Key Nifty Levels Ahead Tired of too many ads? Remove Ads Trading Outlook: Aug 18–22 (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) The Indian market finally broke its six-week losing streak and closed in the green, with the Nifty50 rising more than 1% for the week ended August week, we had highlighted August 12 as a date to watch for a potential trend shift — and the market played out exactly in line. On that day, the index registered its weekly high, followed by a sharp downside move, making it a pivotal session for positional precision of our highlighted levels was once again visible on the charts:24,380 support worked effectively, with the week's low forming at 24,348.24,650 zone acted like a magnet on August 12, 13, and 14, with the price repeatedly hovering around it, confirming its significance for the intraday time clusters also proved their worth, providing traders with high-probability turning points:Aug 11 (Mon): 9:20 AM day low, 2:50 PM day high — both matched 12 (Tue): 11:00 AM swing low formed, though 1:30 PM saw no major 13 (Wed): 12:30 PM swing low, followed by strong upside momentum until 2:00 PM, near our projected 1:30 PM 14 (Thu): 10:20 AM day high aligned exactly with our given again, these timings demonstrated their precision for intraday traders seeking high-probability entries and should keep these zones in focus as decision points:Support: 24,538 / 24,480 / 24,443 / 24,380 / 24,331 / 24,142Resistance: 24,670 / 24,808 / 24,850 / 24,978 / 25,083 / 25,322Watching price action around these levels will be crucial to gauge reversals or confirm Time Clusters (Aug 18–22)Mon, Aug 18: 9:20 AM, 11:00 AM, 12:20 PM, 2:20 PMTue, Aug 19: 9:30 AM, 1:45 PM, 2:30 PMWed, Aug 20: 1:30 PMThu, Aug 21: 10:45 AM, 11:30 AM, 2:30 PMFri, Aug 22: 9:25 AM, 10:20 AM, 11:35 AM, 1:35 PMThe coming week could witness heightened momentum, with August 21–22 standing out as highly important dates. Traders should be prepared for the possibility of a meaningful reversal or trend shift around this window.(The author is Director, Wealthview Analytics Pvt Ltd. SEBI Registration – INH000009676)(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store