\n<\/p>\n
The White House is placing an additional 25% tariff on imports from India, bringing total tariffs up to 50%, in retaliation for the country\u2019s purchase of oil from Russia, according to an executive order signed on Wednesday morning.<\/p>\n
India has 21 days to respond to the potential tariffs before they go into effect. The tariffs will be tacked on to a 25% tariff on India Donald Trump set last week as a \u201cpenalty\u201d for the country\u2019s trading relationship with Russia.<\/p>\n
Last week, the president wrote on social media that India had \u201calways bought a vast majority of their military equipment from Russia, and are Russia\u2019s largest buyer of energy\u201d.<\/p>\n
\u201cI don\u2019t care what India does with Russia. They can take their dead economies down together, for all I care,\u201d he wrote.<\/p>\n
Trump had signaled on Tuesday that he would imminently announce new tariffs, telling CNBC that the country was \u201cfueling the war machine\u201d against Ukraine.<\/p>\n
India has said that it feels unjustly singled out for its trade relationship with Russia. In a statement on Wednesday, the country\u2019s ministry of external affairs said that its imports \u201care based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people in India\u201d.<\/p>\n
\u201cWe reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interest,\u201d the statement read.<\/p>\n
Trump has also been critical of India\u2019s role in the Brics trading bloc formed among some of the US\u2019s trading partners and competitors, including Brazil, Russia, China and India. Trump has called the group \u201canti the United States\u201d.<\/p>\n
In 2024, Indian imports into the US were estimated to be worth $129bn (\u00a397bn).<\/p>\n
India now faces the highest tariff rate along with Brazil, which also has 50% tariffs in response to the country\u2019s arrest of its former president Jair Bolsonaro, a Trump ally. A slate of Trump\u2019s \u201creciprocal\u201d tariffs are set to go into effect this Friday, including the 50% tariff on Brazil, a 35% tariff on Canada and a 25% tariff on Mexico.<\/p>\n
In recent weeks, Trump has set his sights on ending Russia\u2019s war on Ukraine, which he had said he would end in his first 24 hours in office. Trump set a 10-day deadline for this Friday for Russia to make a peace deal with Ukraine. The US special envoy Steve Witkoff visited Moscow on Wednesday to hold talks with the Kremlin. Trump claimed \u201cgreat progress was made\u201d during the three-hour talks.<\/p>\n
When Trump was asked on Sunday what would happen if Russia does not end the war by his Friday deadline, he said: \u201cWell, there will be sanctions, but they seem to be pretty good at avoiding sanctions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The White House is placing an additional 25% tariff on imports from India, bringing total tariffs up to 50%, in retaliation for the country\u2019s purchase of oil from Russia, according to an executive order signed on Wednesday morning. India has 21 days to respond to the potential tariffs before they go into effect. The tariffs<\/p>\n","protected":false},"author":1,"featured_media":14407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[3881,3880,426,523,72,899,526,81],"class_list":{"0":"post-14406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bloc","9":"tag-brics","10":"tag-india","11":"tag-russia","12":"tag-tariffs","13":"tag-threatens","14":"tag-ties","15":"tag-trump"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/14406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14406"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/14406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/14407"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}