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Trump hikes India levy over Russian oil as tariff deadline looms

Trump hikes India levy over Russian oil as tariff deadline looms

15 Sept 13:18 Key points summarised by AI
  • US President Donald Trump ordered an additional 25-percent tariff on Indian goods, raising the total duty to 50 percent for many products, due to India's continued purchase of Russian oil.
  • This tariff increase is part of Trump's strategy to pressure Moscow to end the war in Ukraine, with threats of penalties extending to other countries importing Russian oil.
  • India's foreign ministry condemned the new tariffs as "unfair, unjustified and unreasonable," highlighting that Washington had previously encouraged Russian oil imports for global energy stability.
  • The tariffs on India are part of a broader escalation of Trump's trade wars, with new duties also impacting Brazil and dozens of other economies, including the European Union, Japan, and South Korea, as a tariff deadline approaches.
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