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Trump Hikes India Levy Over Russian Oil As Tariff Deadline Looms

15 0
08.08.2025

US President Donald Trump on Wednesday ordered steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil, opening a new front in his trade wars hours before another wave of duties takes effect.

The additional 25-percent tariff on Indian goods, coming into place in three weeks, stacks atop a separate 25-percent duty entering into force Thursday, taking the level to 50 percent for many products.

Trump's order also threatens penalties on other countries who "directly or indirectly" import Russian oil, a key revenue source for Moscow's war in Ukraine.

Exemptions remain however for goods targeted under sector-specific duties such as steel and aluminum, and categories that could be hit later, like pharmaceuticals and semiconductors.

Smartphones are in this list of exempted products for now, shielding Apple from a major hit as the US tech titan shifts production from China to India.

India's foreign ministry condemned Trump's announcement Wednesday, calling the move "unfair, unjustified and unreasonable."

The ministry previously said India began importing oil from Russia as traditional supplies were........

© International Business Times