President Trump is punishing India for its purchases of Russian oil. The president signed an executive order placing an additional 25 percent tariff — bringing the combined tariffs imposed by the U-S on India to 50 percent. The tariffs are set to go into effect in 21 days, which means both India and Russia might […]
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Trump slaps additional 25% tariff on India for buying Russian oil
President Trump is punishing India for its purchases of Russian oil. The president signed an executive order placing an additional 25 percent tariff — bringing the combined tariffs imposed by the U-S on India to 50 percent. The tariffs are set to go into effect in 21 days, which means both India and Russia might have time to negotiate with the administration on the import taxes. The Trump administration has accused India of effectively financing Russia’s war in Ukraine with its oil purchases.