India’s purchases of Russian energy are ‘fueling the war machine,’ Trump said earlier.
President Donald Trump is imposing an additional 25 percent tariff on India, lifting the total rate to 50 percent.
Trump, writing in an Aug. 6 executive order, said India’s government 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,” the executive order states.
Last week, the president announced a 25 percent tariff against India, one of the largest U.S. trading partners. Additionally, India would face another penalty over its purchases of Russian energy and military equipment.
In an Aug. 5 interview with CNBC’s “Squawk Box,” he confirmed that he would increase the tariff on India “very substantially over the next 24 hours” because it is buying Russian crude oil that is “fueling the war machine.”
By Andrew Moran
