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.
Trump signed an Executive Order imposing additional 25 per cent tariff on Indian imports. According to the order, Trump cited matters of national security, foreign policy concerns, trade laws for the increase, adding that India’s imports of Russian oil pose an "unusual and extraordinary threat" to the United States.
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