This article is from the source 'bbc' and was first published or seen on . The next check for changes will be
You can find the current article at its original source at https://www.bbc.com/news/articles/c1dxr1g4y7yo
The article has changed 8 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Trump hits India with extra 25% tariff for buying Russian oil | Trump hits India with extra 25% tariff for buying Russian oil |
| (32 minutes later) | |
| US President Donald Trump has issued an executive order on Wednesday hitting India with an additional 25% tariff over its purchases of Russian oil. | |
| That will raise the total tariff on Indian imports to the United States to 50% - among the highest rates imposed by the US. | |
| The new rate shall be "effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 21 days after the date of this order", the executive order stated. | The new rate shall be "effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 21 days after the date of this order", the executive order stated. |
| The US president had earlier warned he would raise levies, saying India "don't care how many people in Ukraine are being killed by the Russian War Machine". | The US president had earlier warned he would raise levies, saying India "don't care how many people in Ukraine are being killed by the Russian War Machine". |
| "The Russian Federation's actions in Ukraine pose an ongoing threat to US national security and foreign policy, necessitating stronger measures to address the national emergency," according to a White House statement. | |
| "India's importation of Russian Federation oil undermines US efforts to counter Russia's harmful activities." | |
| The White House said that India import and subsequent reselling of Russian oil on the market "further enables the Russian Federation's economy to fund its aggression [in Ukraine]". | |
| It stated that the US president is using the tariff to "deter countries from supporting the Russian Federation's economy". | |
| It added that the US will determine which other countries import oil from Russia, and will "recommend further actions to the President as needed". | |
| The threatened tariff hike follows meetings by Trump's top envoy Steve Witkoff in Moscow, aimed at securing peace between Russia and Ukraine. | |
| New Delhi had previously called Trump's threat to raise tariffs over its purchase of oil from Russia "unjustified and unreasonable". | |
| In an earlier statement, a spokesperson for India's foreign ministry, Randhir Jaiswal, said the US had encouraged India to import Russian gas at the start of the conflict, "for strengthening global energy markets stability". | |
| He said India "began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict". | |
| India also criticised the US - its largest trading partner - for introducing the tariffs, when the US itself is still doing trade with Russia. | |
| Last year, the US traded goods worth an estimated $3.5bn (£2.6bn) with Russia, despite tough sanctions and tariffs. | |
| "Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," the foreign ministry statement said. |