Trump to put additional 25% import taxes on India, bringing combined tariffs to 50%
By JOSH BOAK, Associated Press
WASHINGTON (AP) — President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on India to 50%.
The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.
Trump’s move could reshape India’s economic ambitions. Many American companies have seen India as an alternative to the Chinese manufacturing that Trump had hoped to diminish through the use of tariffs. Even though China also buys oil from Russia, Beijing was not subject to the additional tariffs in the order signed by the Republican president.
The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products.
More Stories
A Brief, Surprisingly Dramatic History of the Corporate Freebie
The promotional product has a longer and stranger history than most of the brands that hand them out. The father...
Beyond Search: Why Discovery-Led Shopping Is Reshaping UK Ecommerce
Online shopping has traditionally followed a predictable path: consumers know what they want, search for it, compare options and buy....
Locked Out: What Actually Happens, and How Not to Overpay
Knowing in advance what a competent locksmith will actually do, and roughly what it should cost, turns a stressful scramble...
Badenoch blames Labour tax plans for exodus of wealth creators
Kemi Badenoch has accused the Labour government of driving Britain’s wealth creators abroad, and called for the ban on new...
Google’s Gemini joins rogue AI cases after real-world hacks – WSJ
Similar incidents have previously been disclosed by OpenAI, Anthropic and Meta Google’s Gemini has joined a growing list of advanced...
Richard Gere’s foundation signs Monaco environmental agreement
The Prince Albert II of Monaco Foundation and the Gere Foundation signed a memorandum of understanding in Monaco today, agreeing...
