Earlier in the day, US President Donald Trump announced an extra 25 per cent trade tariff on India after he warned the country of action over its oil purchases from Russia, taking the total levy to 50 per cent. The additional tariffs are to be applicable after 21 days from today, coming into effect on August 27, according to an order signed by Trump.
“The United States has in recent days targeted India’s oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the Ministry of External Affairs said in an official statement.
“It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” the statement said, reiterating its stance on several other countries, including the US and European Union, importing Russian oil.
“We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests,” the statement added.
In his Executive Order that he signed on Wednesday, Trump said that he found that India was directly or indirectly importing Russian oil, suggesting that its South Asian trade partner was helping the Russian economy, which had raged a war against US ally- Ukraine.
