US Trade Tariffs Live News Updates: US President Donald Trump has imposed steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil, opening a new front in his trade wars hours before another wave of duties takes effect. The additional 25-per-cent tariff on Indian goods, coming into place in three weeks, stacks atop a separate 25-per cent duty entering into force Thursday, taking the level to 50 per cent for many products.
Exemptions remain, however, for goods targeted under sector-specific duties such as steel and aluminium, and categories that could be hit later, like pharmaceuticals and semiconductors.
India has condemned Trump's announcement, calling the move "unfair, unjustified and unreasonable."
The Foreign Ministry has earlier said India began importing oil from Russia as traditional supplies were diverted to Europe over the war -- noting that Washington had "actively encouraged" such imports to strengthen "global energy market stability.
Exemptions remain, however, for goods targeted under sector-specific duties such as steel and aluminium, and categories that could be hit later, like pharmaceuticals and semiconductors.
India has condemned Trump's announcement, calling the move "unfair, unjustified and unreasonable."
The Foreign Ministry has earlier said India began importing oil from Russia as traditional supplies were diverted to Europe over the war -- noting that Washington had "actively encouraged" such imports to strengthen "global energy market stability.
Comments
Post a Comment