NEW DELHI: India has vowed to take “all actions necessary” to protect its national interests after US President Donald Trump doubled US tariffs on India to 50 percent over Delhi’s purchase of Russian oil.
Trump signed an executive order on Wednesday to place an additional 25 percent tariff on India on top of a 25 percent tariff that is set to come into effect on Thursday, making the South Asian country one of the most heavily taxed US trading partners in Asia.
The order finds India is “currently directly or indirectly importing Russian Federation oil,” and says it is “necessary and appropriate” to apply the new 25 percent tariff on Indian goods.
The US is India’s top export market, making up about 18 percent of exports and 2.2 percent of its GDP.
Foreign ministry spokesman Randhir Jaiswal said the US decision to impose additional tariffs was “extremely unfortunate,” as Delhi’s imports from Russia “are based on market factors” and done to ensure energy security for the 1.4 billion Indian population.
