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Washington, Aug 6 (PTI) US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi's continued buying of Russian oil.
Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect.
After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent.
While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days. PTI RR ANZ HVA
Tariff penalty for continued purchases of sanctioned oil imposes additional duties on imports from India, phased implementation follows. An executive order imposes an additional tariff on imports from India as a punitive trade measure linked to India's purchases of Russian oil, raising the overall duty burden while preserving a limited exemption list; the initial duties take effect on the stated date and the additional levy becomes enforceable after a specified delayed implementation period.Press 'Enter' after typing page number.