By Black Star News
Photos: Wikimedia Commons
Wednesday, Donald Trump added an additional 25 percent tariff upon India after signing an executive order–which raises the combined tariff upon India to 50 percent.
The additional tariff was being placed on India, and ally of the United States, because India has been buying Russian oil. The tariffs are scheduled to go into effect in 21 days.
Trump’s tariffs on India could hurt the economic relationship at a time when American companies have been look at India as a likely relocation destination for the manufacturing operations that are in China. Russia also sells China oil. Reportedly, Russia will have a meeting with the US Wednesday.
The added tariffs were called “unfortunate” by the government of India.
Foreign Ministry spokesman Randhir Jaiswal, in a statement, said, “We reiterate that these actions are unfair, unjustified and unreasonable.”
Former Indian trade official, Ajay Srivastava, noted that the tariffs places India among the most harshly taxed trading partner of the United States and above non-ally countries like China, Bangaladesh, and Vietnam.
“The tariffs are expected to make Indian goods far costlier with the potential to cut exports by around 40%-50% to the U.S.,” Srivastava said. “Washington avoids targeting Beijing because of China’s leverage over critical minerals which are vital for U.S. defense and technology.”
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