The White House announced on Wednesday that it is imposing an additional 25% rate on India, raising the total taxes to 50%.
“I find that the Government of India is currently importing directly or indirectly oil from the Russian Federation,” President Donald Trump said in an executive order.
“Consequently, and in accordance with applicable legislation, India articles imported to the customs territory of the United States will be subject to an additional rate the value 25%, ”says the decree.
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The new rates will come into force within 21 days, according to the decree.
Trump’s new fare about India is now among the highest imposed on all US business partners.
It is also the latest sign that Trump is advancing to fulfill its threat of punishing countries that buy Russian oil while intensifying pressure on Ukraine invasion by President Vladimir Putin.
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Trump said last week that India would pay a 25%rate, as well as a “penalty” due to the purchase of Russian military equipment and energy.
On Tuesday, Trump said he would increase the fare about India “very substantially in the next 24 hours, because they are buying Russian oil, they are feeding the war machine.”
India, however, said it is being “targeted” from the United States and the European Union “for importing oil from Russia after the start of the conflict in Ukraine.”
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The Ministry of Foreign Affairs in India said in a statement on Monday that “it is revealing that the nations that criticize India are getting involved in trade with Russia.”
