US Imposes Additional Tariffs on Indian Goods over Russian Oil Purchases

US President Donald Trump has issued an executive order imposing an additional 25 percent tariff on Indian goods due to New Delhi's continued purchase of Russian oil. This move comes as part of the US' efforts to pressure countries to stop buying Russian oil amid the ongoing conflict in Ukraine. The tariff will take effect in three weeks, in addition to a separate 25 percent duty that entered into force on Thursday.

Key Takeaways:

• The US has imposed an additional 25 percent tariff on Indian goods due to New Delhi's continued purchase of Russian oil.
• The tariff, set to take effect in three weeks, is in addition to a separate 25 percent duty that entered into force on Thursday.
• The executive order targets Indian goods, including items that could be hit by potential penalties, such as pharmaceuticals.
• US President Trump has been ramping up pressure on India to stop buying Russian oil, threatening potential sanctions on Moscow if it does not make progress towards a peace deal with Kyiv by Friday.
• India's foreign ministry has called the US pressure "unjustified and unreasonable" and stated that it will protect its interests.

Statistics:

• 25% additional tariff on Indian goods due to Russian oil purchases.
• 25% duty on Indian goods entered into force on Thursday.
• Three weeks for the additional tariff to take effect.

Sources:

• The official news Agency of Bangladesh (BSS)
• The White House (executive order released by the White House)
• Media reports in New Delhi (India's national security adviser was in Moscow on Wednesday)
• India's foreign ministry statement (regarding US pressure to stop buying Russian oil)