Trump imposes 25% tariff on India for importing Russian oil

THE US is levying an additional 25% tariff on India for importing Russian oil, the White House announced on Wednesday.

The tariffs will come into effect within 21 days and will be on top of existing tariffs, according to an executive order from US President Donald Trump.

“To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil,” the order read.

India’s Ministry of External Affairs slammed the move as “unfair, unjustified and unreasonable”.

“We have already made clear our position on [the US tariff], including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4bn people of India,” a MEA spokesperson said in a statement on Wednesday.

“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.”

The executive order left open the possibility for Trump to impose so-called secondary tariffs on other countries importing Russian oil.

“If the Secretary of Commerce finds that a country is directly or indirectly importing Russian Federation oil, the Secretary of State, in consultation with the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Security, the US Trade Representative, the Assistant to the President for National Security Affairs, the Assistant to the President for Economic Policy, and the Assistant to the President and Senior Counselor for Trade and Manufacturing, shall recommend whether and to what extent I should take action as to that country, including whether I should impose an additional ad valorem rate of duty of 25% on imports of articles of that country.”