The White House announced Wednesday that it is imposing an additional 25% tariff on India, bringing the total levies against the major United States trading partner to 50%.
“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” President Donald Trump said in an executive order.
“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 reads.
Trump last week said that India would pay a tariff of 25%, in addition to a “penalty” over the country’s purchase of military equipment and energy from Russia. It was not clear at the time what such a penalty would look like.
But Trump said Tuesday that he would be raising the tariff on India “very substantially over the next 24 hours, because they’re buying Russian oil, they’re fueling the war machine.”
“And if they’re going to do that, then I’m not going to be happy,” Trump said on CNBC’s “Squawk Box.”