Washington – President Trump signed executive Order Applying an additional 25% tariff on goods from India on Wednesday as it continues to buy oil from Russia.
President’s announcement Just one week comes When he said he would slap 25% tariffs on imports from India, as well as an unspecified “fined” due to the purchase of Russian military equipment and energy. As per the instructions, additional tariffs are ready to be effective in 21 days. The latest action brings up to 50%of the total duties levied on Indian products.
Mr. Trump criticized India, because being tariffs “too much” and “are the most rigid and unpleasant non-modern trade obstacles in any country.”
The President has demanded a target of trade countries with Russia, which is under his efforts of pressure to the Kremlin to reach the peace deal with Ukraine. Russian President Vladimir Putin Steve met VitcofoffAccording to Kremlin, special messengers of Mr. Trump in Moscow on Wednesday.
Mr. Trump has Looking at Putin till Friday To agree to a ceasefire with Ukraine or to face “severe tariffs” and other economic punishment.
The tariff is a signature piece of the President’s trade agenda, and Mr. Trump has used levy to force American business partners to talk on business agreements. President announced last week High duty against more than 60 countries Before the Friday time limit for them to cut business deals with their administration. Those tariffs have been determined to be effective this week.
America had a trade deficit of $ 45.8 billion with India last year, according to 5.9% increase in 2023, data From the office of American Business Representative.
Mr. Trump Indian Prime Minister met Narendra Modi Earlier this year, at the White House and it was said that America would increase military sales to India. He also said that he and Modi reached a deal on oil and gas that would make the leading supplier of American India.
