Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
NEW YORK, Aug. 4 (Xinhua) — U.S. President Donald Trump on Monday threatened to "significantly" raise tariffs on goods imported from India, citing India's purchase and resale of Russian oil.
“Not only does India buy huge amounts of Russian oil, but it then sells much of that oil on the open market at a huge profit,” Trump said on Truth Social.
According to the order signed by D. Trump on July 31, a 25 percent duty will be imposed on Indian goods imported into the United States from August 7.
In addition, the US President previously said that he would impose a fine for India's purchase of Russian oil, but did not provide details.
In early April, D. Trump announced 26 percent tariffs on Indian goods in addition to the 10 percent basic tariffs, but then he suspended their introduction.
In response to Trump's new threat, the Indian Foreign Ministry said that "targeting India is unjustified and unwise" and that oil imports are meant to "ensure predictable and affordable energy prices" for Indian consumers.
“Like any major economy, India will take all necessary measures to protect its national interests and economic security,” the ministry said in a statement on its website.
According to the Office of the US Trade Representative, the US trade deficit with India in 2024 was $45.8 billion, up 5.9 percent from 2023.
Many countries strongly oppose the recent unilateral US tariff measures. –0–
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.
.