President Trump on Wednesday brought more hurt to India in announcing that the US would impose an additional 25% tariff on the country, bringing the new tariff to 50%, over its use of Russian oil. India had on Friday indicated it will continue to buy oil from Russia despite threats by Trump. CNBC and the Guardian report the executive order on the move reads in part:
- "I have received additional information from various senior officials on, among other things, the actions of the Government of the Russian Federation with respect to the situation in Ukraine."
- "After considering this additional information, among other things, I find ... that the actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States."
- "I find that the Government of India 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%."
Trump had last week set India's tariff rate at 25%, in addition to an unspecified "penalty" due to the country's ongoing purchases of military equipment and oil from Russia. CNBC quotes Trump as warning on Tuesday that he'd 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."
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