The Indian government is reportedly mulling over new incentives for exporters amid the doubling of import tariffs by the United States. Quoting sources, NDTV profit reported that some of these incentives were provisioned in the Union Budget for financial year 2025-26.

The pressure on Indian exporters is mounting due to Trump's latest move to slap an additional 25 per cent tariffs on the country, for its continued purchase of crude oil from Russia. This takes the cumulative tariffs to 50 per cent, which is at par with Brazil and higher than most of the US trading partners.The revised tariffs are to come into effect from August 27.

While US President Donald Trump has announced the imposition of 50 per cent tariffs on India's exports, this is expected to impact only 4.8 per cent of the total goods and services exports of the country worldwide, which surpassed a record $820 billion in 2024-25, according to official estimates.

The 50 per cent tariff being imposed by the Trump administration will be applicable only to exports worth $40 billion to the US, a senior official said.

(IANS)

Chinese Ambassador to India, Xu Feihong took a jab at US President Donald Trump after his tariff imposition on countries, including India.

Ever since Donald Trump's tariff salvo on India this week, garment maker Pearl Global - whose US client list includes Gap and Kohl's - has been receiving midnight panic calls with an ultimatum: share the tariff hit or move production out of India.

To calm US customers' nerves, Pearl Global has offered to shift production to its 17 factories in Bangladesh, Indonesia, Vietnam and Guatemala to bypass the steep US levies on Indian imports.

"All the customers are already calling me. They want us to ... shift from India to the other countries," Managing Director Pallab Banerjee told Reuters in an interview.

(Reuters)

Farmers from different parts of the country have welcomed Prime Minister Narendra Modi's strong assertion that the interest of farmers remains his government's top priority, praising his initiatives and expressing their faith in his leadership.

PM Modi on Thursday said that farmers remain India's top priority, stating that the country would never compromise their interests -- a firm message in response to the recent tariffs imposed by US President Donald Trump.

(ANI)

President Donald Trump began levying higher import taxes on goods from nearly 100 other nations on Thursday, just as the economic fallout of his monthslong tariff threats begins to create visible damage to the US economy. These taxes, reaching a level not seen in the US in almost 100 years, will have Americans paying an average of 18.3% more for imported products, the highest rate since 1934, according to the Budget Lab at Yale, a nonpartisan policy research center.

Despite the immediate impact, the Trump White House is confident businesses will ramp up new investments and jump-start hiring in ways that can rebalance the US economy as a manufacturing power.

(AP)

The government may prioritise support measures for sectors, like textiles and chemicals, which would be severely impacted by the US tariffs, under the export promotion mission, industry sources said on Thursday.

The issues were discussed in the commerce ministry's consultations with exporters from the textiles and chemicals sectors to assess the impact and explore possible support measures, they added.

They said that the ministry is working on the export promotion mission, announced in the Budget.

(PTI)

President Donald Trump began imposing higher import taxes on dozens of countries Thursday just as the economic fallout of his monthslong tariff threats has begun to cause visible damage to the U.S. economy.

Just after midnight, goods from more than 60 countries and the European Union became subject to tariff rates of 10% or higher. Products from the EU, Japan and South Korea are taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20%. Trump also expects the EU, Japan and South Korea to invest hundreds of billions of dollars in the United States.

(AP)

As Prime Minister Narendra Modi assured that no compromise will be made with the interest of the farmers, Senior Shiromani Akali Dal (SAD) leader Naresh Gujral on Thursday expressed gratitude towards PM Modi for taking a firm stance on protecting the national interests and not allowing any other country to interfere in India's foreign policy, right as the United States imposed an additional 25 per cent tariff on import of Indian goods.

The party leader also urged all political parties to support the Centre to send a strong message out to the world that the country's foreign policy will not be compromised.

(ANI)

Wall Street was poised to open with gains Thursday as markets showed scant if any reaction to President Donald Trump's higher tariffs on exports to the United States that took effect early Thursday.

Futures for the S&P 500 rose 0.6%, while futures for Dow Jones Industrial Average added 0.5%. Nasdaq futures were up 0.7%.

(AP)

US President Donald Trump has vowed additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

Global powers will always bully India unless it takes its destiny in its own hands, Eternal (formerly Zomato) CEO Deepinder Goyal said on Thursday, a day after US President Donald Trump ratcheted up tariffs on Indian goods to 50 per cent.

In a post on X, he said India should collectively decide to become the world's "most unapologetic superpower" amid the "threat" and "tariff".

(PTI)

Kannur, Kerala | On PM Modi's "India will never compromise on the interests of farmers, fishermen and dairy farmers", a fisherwoman says, "We heard the speech of PM Modi. We have complete faith in PM Modi" pic.twitter.com/vLF31g6p9Z

— ANI (@ANI) August 7, 2025

Chennai, Tamil Nadu | On PM Modi's "India will never compromise on the interests of farmers, fishermen and dairy farmers", a fisherman and Member of the Management Committee of the Chennai Fishing Harbour, S.Satishkumar says, "We are extremely proud that our Prime Minister has… pic.twitter.com/VoG9HNw7BS

— ANI (@ANI) August 7, 2025

Russia and India stressed their commitment to a "strategic partnership" in bilateral security talks in Moscow on Thursday, a day after US President Donald Trump announced higher tariffs on imports from India because of its purchases of Russian oil.

Interfax news agency quoted Indian national security adviser Ajit Doval as saying that New Delhi was looking forward to a visit from President Vladimir Putin by the end of the year.

(Reuters)

Bahujan Samaj Party (BSP) supremo Mayawati on Wednesday criticised the United States for imposing heavy tariffs on Indian exports and called the move "a betrayal" of a friendly nation.

She referred to the US imposing retaliatory tariffs on Brazil, a BRICS member nation, and said that Trump has dealt a similar blow to India, another member of the bloc. The 50 per cent tariff imposed on New Delhi is a serious blow, Mayawati said in a post on X.

The former Uttar Pradesh chief minister said that while the Indian government has termed the US decision "unjust, unfair and irrational", the people largely perceive this as a treacherous and weakening step towards India, a "friend" of Donald Trump.

(PTI)

Union Minister of State (MoS) for Agriculture and Farmers Welfare Bhagirath Choudhary on Thursday said that the work done by Prime Minister Narendra Modi for the farmers in the country was "incomparable".

"Whether it's about Kisan Samman Nidhi, increasing MSP, passing the Krishi budget, or promoting generic and organic farming, everything is being done. PM Modi has a dream that farmers' income should be doubled. In the last 11 years, whatever work PM Modi has done for farmers is incomparable," Choudhary told reporters.

(ANI)

Bhartiya Janta Party leaders are applauding Prime Minister Modi's stand on keeping the welfare of Indian farmers paramount amid the additional tariff imposed on India by the US President. BJP MP Dinesh Sharma said that India will not bow down to pressure and will not compromise on the welfare of farmers.

While talking to ANI, BJP MP Dinesh Sharma said, "India has become a country with a huge consumer market. Its production has increased substantially, and we have moved forward towards indigenisation... If any country thinks that India will compromise on the welfare of farmers, dairy, and MSMEs just to please another country, then they should understand that that time is over. India respects everyone, but does not bow down to pressure... It will become the third largest economy..."

(ANI)

Indian exporters warned on Thursday that the cost of additional US tariffs risked making businesses "not viable" after President Donald Trump ordered steeper levies totalling 50 percent on imported Indian goods.

Prime Minister Narendra Modi said he was willing to "pay a great personal price", while opposition Congress party leader Rahul Gandhi called the levies "economic blackmail" and "an attempt to bully India into an unfair trade deal".

(AFP)

At a glance, U.S. President Donald Trump appears to be winning the trade war he unleashed after returning to the White House in January, bending major trading partners to his will, imposing double-digit tariff rates on nearly all imports, narrowing the trade deficit, and raking in tens of billions of dollars a month in much-needed cash for federal government coffers.

Significant hurdles remain, however, including whether US trading partners will make good on investment and goods-purchase commitments, how much tariffs will drive up inflation or stymie demand and growth, and whether the courts allow many of his ad-hoc levies to stand.

(Reuters)

The rupee consolidated in a narrow range and settled for the day higher by just 3 paise at 87.69 (provisional) against the US dollar on Thursday, after US President Donald Trump slapped an additional 25 per cent duty -- doubling it to 50 per cent -- on Indian goods, denting market sentiments.

Forex traders said weak crude oil prices and a decline in the US Dollar index supported the rupee. However, muted domestic markets and foreign fund outflows capped sharp gains.

Moreover, Trump's aggressive move, which kicks in 21 days, threatens to raise total duties on select Indian exports to as high as 50 per cent -- making them among the most heavily taxed US imports globally, further dented market sentiments.

(PTI)

AIMIM president Asaduddin Owaisi on Thursday said US President Donald Trump's decision to impose 50 per cent tariff on Indian goods will hurt Indian exporters, MSMEs, manufacturers and will disrupt supply chains, deter FDI, and hit jobs hard.

A day after Trump imposed a penalty of another 25 per cent on India for buying Russian oil, Owaisi said Trump just slapped another 25 per cent tariff on India, taking it to 50 per cent, because "we bought oil from Russia".

In a post on X, the Hyderabad MP said "This isn't diplomacy, it's bullying by the buffoon-in-chief who clearly doesn't understand how global trade works".

(PTI)

Amid ruckus over the Trump administration doubling the tariff imposition on goods from India to 50 per cent, Bharatiya Janata Party (BJP) MP Nishikant Dubey on Thursday appealed the "140 crore Indians" to extend their support to Prime Minister Narendra Modi and send a strong message of unity.

"Trump is imposing tariffs on 140 crore Indians. We need to stand behind our Prime Minister so that India remains strong and a message goes out to the world that India stands united, be it Operation Sindoor or be it US tariffs on India," Dubey told ANI.

(ANI)

Leading foreign policy and national security expert Lisa Curtis, who served as former Deputy Assistant during US President Donald Trump's first term, on Thursday called the decision by Trump to impose additional tariffs on India "shocking," while highlighting India's rapidly growing economy as a major strength in the strategic partnership between the two nations.

Speaking exclusively to IANS, Curtis expressed surprise at the 25 per cent tariff announced by President Trump on Indian imports, especially since China -- a strategic rival of the US -- has not faced similar measures despite importing Russian oil.

(IANS)

US President Donald Trump's sweeping new tariffs on imports from more than 90 countries came into effect on Thursday. It shook global supply chains and led to price hikes from some of the world's biggest brands, including Nike, Adidas, and Mattel.

Thanks to Trump's tariffs, analysts have flagged a cumulative downside of 60 basis points to India's real GDP growth, 0.3 percentage points from the April round and another 0.3 percentage points from the August escalation.

India's former G20 Sherpa Amitabh Kant is looking at the hefty Trump tariffs as "once in a generation opportunity".

India is likely to be among the countries worst hit by US President Donald Trump's trade offensive, with tariffs on Indian imports set to surge to 50% if a deal is not struck in three weeks.

Sending a strong message the day after US President Donald Trump ratcheted up the tariff war against India, Prime Minister Narendra Modi stressed that India will never compromise with the interests of its animal husbandry industry and fishermen

Vladimir Putin To Visit India Soon, Dates Almost Final, Says Ajit Doval In Moscow

US President Donald Trump warned of new "secondary sanctions" for Moscow's trading partners when he was asked why India was being "singled out" for its business ties with Russia, leaving other nations that have been buying Russian energy.

Switzerland scrambled for answers Thursday after a last-gasp government mission to Washington failed to stop a 39-percent tariff blow from President Donald Trump, sparking job fears in what businesses called a "horror scenario". 

The government was due to hold an emergency meeting after President Karin Keller-Sutter and Economy Minister Guy Parmelin returned home from their trip empty-handed. Trump blindsided the Swiss last week when he announced that the country would be hit by one of the highest tariffs among new duties on imports from dozens of economies that took effect on Thursday.

The Swiss rate was higher than Trump's previous threat of a 31-percent tariff. Keller-Sutter rushed to the US capital with a small delegation earlier this week to seek a friendlier levy, but she only secured a meeting with US Secretary of State Marco Rubio, who does not oversee tariff policy.

After Wednesday's meeting, Keller-Sutter spoke only of "a very friendly and open exchange on common issues". The Swiss government said Thursday that it would hold an extraordinary meeting and issue a statement.

As India makes it clear that it is ready to stand up to US President Donald Trump's tariffs offensive, a South Asia analyst has explained the link between the ceasefire that paused the India-Pakistan conflict after the Pahalgam terror attack

"India Should Retaliate": Shashi Tharoor To NDTV On 50% Trump Tariffs

As India makes it clear that it is ready to stand up to US President Donald Trump's tariffs offensive, a South Asia analyst has explained the link between the ceasefire that paused the India-Pakistan conflict after the Pahalgam terror attack

Danish shipping giant Maersk posted Thursday a 26.5-percent decline in second-quarter net profit but raised its annual outlook, owing to robust demand outside the United States amid President Donald Trump's tariff onslaught.

"Even with market volatility and historical uncertainty in global trade, demand remained resilient, and we've continued to respond with speed and flexibility," Maersk chief executive Vincent Clerc said in a statement.

The additional 25% tariff imposed by US President Donald Trump has left Indian textile exporters worried, with traders waiting for financial support from the government to sustain their businesses.

US President Donald Trump today announced an additional 25 per cent tariff on goods coming from India as penalty for what he called New Delhi's continued buying of Russian oil.

Japanese auto giant Toyota on Thursday cut its annual net profit forecast to 2.66 trillion yen ($18.06 billion) owing to the impact of US tariffs. "Due to the impact of US tariffs and other factors, actual results showed decreased operating income, and the forecast has been revised downward," the company said in a statement. Its shares fell 0.6 percent in Tokyo afternoon trade.

The Trump administration in April imposed a 25 percent levy on Japanese cars imported into the United States, dealing a hefty blow to Japan and its crucial auto sector.

Although Tokyo and Washington announced a trade deal in July, lowering that rate to 15 percent and providing a degree of relief for the industry, it's not yet clear when it will take effect. (AFP)

Benchmark equity indices Sensex and Nifty declined in early trade on Thursday as US President Donald Trump slapped an additional 25 per cent duty -- doubling it to 50 per cent -- on Indian goods over New Delhi's continued imports of Russian oil.

US President Donald Trump said early Thursday that "billions of dollars in tariffs" were now flowing into the United States after his August 7 deadline for implementing new duties.

Taking to his Truth Social platform just after midnight, he posted: "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!"

Switzerland's federal government will hold an "extraordinary meeting" Thursday, following the return of officials from Washington where they had tried to convince Donald Trump not to impose punitive tariffs on Swiss goods.

"Tariffs: After its delegation returns from the USA, the Federal Council will hold an extraordinary meeting in the early afternoon. A statement will follow after the meeting," the government posted on X.

Asian equities rose Thursday, with big-name chip firms making big gains after Donald Trump said those investing in the United States would be exempted from a threatened 100-percent tariff on semiconductors.

The advances built on a strong lead from Wall Street and extended the previous day's rally fuelled by hopes the Federal Reserve will cut interest rates next month. A day before sweeping tariffs were due to come into effect on dozens of countries, the president said: "we're going to be putting a very large tariff on chips and semiconductors".

He added that the level would be "100 percent" but did not offer a timetable.

Higher US tariffs came into effect for dozens of economies Thursday, drastically raising the stakes in President Donald Trump's wide-ranging efforts to reshape global trade. As an executive order signed last week by Trump took effect, US duties rose from 10 percent to levels between 15 percent and 41 percent for a list of trading partners.

Many products from economies including the European Union, Japan and South Korea now face a 15-percent tariff, even with deals struck with Washington to avert steeper threatened levies. But others like India face a 25-percent duty -- to be doubled in three weeks -- while Syria, Myanmar and Laos face staggering levels at either 40 percent or 41 percent.

Taking to his Truth Social platform just after midnight, Trump posted: "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!"

The latest tariff wave of "reciprocal" duties, aimed at addressing trade practices Washington deems unfair, broadens the measures Trump has imposed since returning to the presidency.

On US President Trump imposing an additional 25 per cent tariff on India over Russian oil purchases, Congress MP Shashi Tharoor said "I don't think that's particularly good news for us and that takes our total tariffs to 50 per cent then that's going to make our goods unaffordable to a lot of people in America and in particularly when you're looking at these percentages you have to compare them with the tariffs being levied on some of our competitors."

"I'm afraid that if you look at people like Vietnam, Indonesia, Philippines, even Bangladesh and Pakistan have lower tariffs than us, then ultimately people will not be buying goods from us in America if they can buy them cheaper elsewhere. So that's not very good for our exports to America. This means we need to very seriously diversify to other countries and other markets that may be interested in what we have to offer.  We now have an FTA with the UK. We are talking to the EU. There are many countries in which hopefully we would be able to, but in the short term, it is definitely a blow," he added.

Sending a strong message the day after US President Donald Trump ratcheted up the tariff war against India, Prime Minister Narendra Modi stressed that India will never compromise with the interests of its animal husbandry industry and fishermen

US President Donald Trump warned of new "secondary sanctions" for Moscow's trading partners when he was asked why India was being "singled out" for its business ties with Russia, leaving other nations that have been buying Russian energy.

US President Donald Trump's sweeping new tariff on India is likely to echo in Parliament on Thursday, with the Congress moving an adjournment motion for a discussion on the "unfair" imposition.

"INDIA SHALL OVERCOME: CRUDE BULLYING, COERCION & ARM TWISTING WON'T  WORK," said Congress leader Manish Tewari in a post on X.

"RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA. THE ONLY THING THAT CAN STOP AMERICA’S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL," US President Donald Trump in a post on Truth Social platform. 

Rupee on Thursday rose 3 paise to 87.69 against US dollar in early trade.

On being asked, 'Indian officials have said that there are other countries that are buying Russian oil, like China, for instance. Why are you singling India out for these additional sanctions', US President Donald Trump says, "It's only been 8 hours. So let's see what happens. You're going to see a lot more...You're going to see so much secondary sanctions."

India will find better alternatives and build self-reliance, said Harsh Goenka, Chairman of RPG Enterprises, in response to increased Trump tariffs.

India must go beyond incremental reform to radically improve ease of doing business by seizing the opportunities created by "unintended consequences" of US President Donald Trump's tariffs, Anand Mahindra said

US President Donald Trump on Wednesday said Washington and Moscow have made a "lot of progress" towards his goal of ending the Ukraine War and speculated America's hefty tariffs on India may have something to do with it.

US President Donald Trump said that Washington and Moscow have made a "lot of progress" in working towards ending the Ukraine War and speculated the punitive tariff he imposed on India for buying Russian oil may have something to do with it.  

"We put a 50 per cent tariff on India," he said on Wednesday (local time), "I don't know if that had anything to do with it, but we've had very productive talks today" (with Russia).

He announced a 25 per cent tariff on India in his general tariff war last week, and on Wednesday morning, he announced an extra 25 per cent tariff for buying Russian oil.

Ajay Srivastava, a former Indian trade official, said the latest tariff places the country among the most heavily taxed US trading partners and far above rivals such as China, Vietnam and Bangladesh.

"The tariffs are expected to make Indian goods far costlier with the potential to cut exports by around 40%-50% to the U.S.," he said.

Srivastava said Trump's decision was "hypocritical" because China bought more Russian oil than India did last year.

(AP)

Trump's order also threatens potential penalties on other countries for "directly or indirectly importing Russian Federation oil," a key source of revenue for Moscow's war in Ukraine.

But exemptions remain for goods targeted under sector-specific duties such as steel and aluminum, and categories that could be hit later, like pharmaceuticals and semiconductors.

(AFP)

The tariffs announced by the US are expected to make Indian goods far costlier in the US, with the potential to cut America-bound exports by 40-50 per cent, think tank GTRI said on Wednesday.

On August 6, Washington announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27.

The White House said the measure responds to India's continued purchase of Russian oil.

(PTI)

India calls additional US tariff "unfair, unjustified and unreasonable", says will take actions to protect national interests

US President Donald Trump today announced an additional 25 per cent tariff on goods coming from India as penalty for what he called New Delhi's continued buying of Russian oil.

US President Donald Trump today signed an executive order imposing an additional 25 per cent tariff on Indian goods, citing New Delhi's continued purchase of Russian oil -- a revenue source the White House says is sustaining Moscow's war in Ukraine.

The ‘law of unintended consequences’ seems to be operating stealthily in the prevailing tariff war unleashed by the U.S.
Two examples:
The EU may appear to have accepted the evolving global tariff regime, responding with its own strategic adjustments. Yet the friction has… pic.twitter.com/D5lRe5OWUa

— anand mahindra (@anandmahindra) August 6, 2025

#IndiaMatters | Trump Imposes Additional 25% Tariff On India, Total Goes Up To 50%@shivaroor decodes with Asha Jadeja Motwani, venture capitalist. pic.twitter.com/J3ZiewwHTJ

— NDTV (@ndtv) August 6, 2025

The Indian government on Wednesday called the additional tariffs "unfortunate."

"We reiterate that these actions are unfair, unjustified and unreasonable," Foreign Ministry spokesman Randhir Jaiswal said in a statement, adding that India would take all actions necessary to protect its interests.

Jaiswal said India has already made its stand clear that the country's imports were based on market factors and were part of an overall objective of ensuring energy security for its 1.4 billion people.

(AP)

Trump's moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president.

As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi.

(AP)

Trump's 50% tariff is economic blackmail - an attempt to bully India into an unfair trade deal, says, Rahul Gandhi, Leader of the Opposition of Lok Sabha

India calls more US tariff "unfair, unjustified and unreasonable", say will take actions to protect national interests

#WATCH | Delhi: On US President Trump imposing an additional 25% tariff on India over Russian oil purchases, Former diplomat, Anil Trigunayat says, "If you say that India should not buy oil from Russia, can you provide oil at the same price as Russia is doing to us? Should we not… pic.twitter.com/qzbpMILMc5

— ANI (@ANI) August 6, 2025

On US President Trump imposing an additional 25% tariff on India over Russian oil purchases, Former diplomat, Anil Trigunayat says, "If you say that India should not buy oil from Russia, can you provide oil at the same price as Russia is doing to us? Should we not look after our own interests? Our national interest is more important. We are not going to just give in to these kinds of arm-twisting tactics, whether by President Trump or anybody else."

(ANI)

Teresa John, Lead Economist, Nirmal Bank Institutional Equities, Mumbai said that, "The pressure is mounting on India to come to a trade agreement. India may agree to significantly reduce Russian purchases over a phased manner and diversify to other sources."

(Reuters)

The additional tariffs mean India will face the highest levy along with Brazil, putting it at a significant disadvantage against regional competitors such as Vietnam and Bangladesh.

The additional tariffs will come into effect after 21 days but it will be on top of earlier 25% so the total 50% rate will be a big negative for Indian exports. However some key segments like electronics and pharma continue to be exempt from this additional rate.

(Reuters)

Trump also ranted about India's "strenuous and obnoxious non-monetary trade barriers".

"... India is our friend (but) we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world. And they have the most strenuous and obnoxious non-monetary trade barriers of any country."

The 50 per cent tariff hit comes hours after angry comments about India-US trade relations.

"India has not been a good trading partner... we settled on 25 percent... but I think I'm going to raise that substantially over the next 24 hours because they're buying Russian oil," he told a US broadcaster on Tuesday.

The order states that India is directly or indirectly importing oil from Russia, which the US considers a threat to its national security and foreign policy.

"Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent," the order reads.

The new tariffs will be applied to all eligible Indian goods entering the US from 21 days after the order's signing, except for shipments already in transit before the deadline and cleared before September 17.

(IANS)

US President Donald Trump today announced an additional 25 per cent tariff on goods coming from India as penalty for what he called New Delhi's continued buying of Russian oil.

US President Donald Trump signed an Executive Order on Wednesday imposing an additional 25 per cent tariff on imports from India in response to New Delhi's purchase of Russian oil.

According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States.

(ANI)

US President Donald Trump today announced 25 per more tariffs on India as "punishment" for buying oil from Russia, taking the total tariffs to 50 per cent.