Trump Slams Russia Oil Deal with 50% Tariffs on India
Donald Trump has ordered a 25% increase in tariffs on Indian goods, making the total amount of taxes on Indian goods 50%. This is because India is still buying oil from Russia. People in Delhi are furious about the decision, which is set to go into effect on August 27.
The Indian foreign ministry called the action “unfair, unreasonable, and not supported by any reason.” They also said, “India will do everything it takes to protect its national interests.”
India doesn’t “care how many people in Ukraine are being killed by the Russian War Machine,” Trump said to defend the move. He also warned, “You’re going to see a lot more, so much secondary sanctions.”
That Russia’s actions in Ukraine are still a threat to US security and that India’s imports “undermine US efforts” was what the White House said.
The country now gets more than 35% of its oil from Russia. Major industries, such as textiles and jewelry, will be hurt by Trump’s new taxes. Electronics and medicine are still free.
India says it started getting oil from Russia after its usual sources moved to Europe. Experts in the field say that these taxes could cut India’s exports to the US in half.
It was called “extremely shocking” by the Federation of India Export Organizations.
