Trump imposes additional 25% tariff on India over Russian oil purchases

Investing.com -- President Donald Trump signed an executive order Wednesday imposing an additional 25% tariff on all imports from India due to the country’s continued purchase of Russian oil.

The new tariffs will take effect 21 days after the signing and will stack on top of existing 25% country-specific tariffs that were set to be implemented overnight, according to the executive order.

In the order, Trump cited the "unusual and extraordinary threat to the national security and foreign policy of the United States" posed by Russia’s actions regarding Ukraine.

"I find that the Government of India is currently directly or indirectly importing Russian Federation oil," Trump stated in the order, using this as justification for the additional duties.

The executive order also authorizes monitoring of other countries that may be importing Russian oil and empowers the Secretary of Commerce, in coordination with other officials, to recommend similar actions against those nations.

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