US President Donald Trump has announced an additional 25 percent tariff on India as a ‘punishment’ for buying oil from Russia. As a result, the total tariff on goods imported from India has reached 50 percent. According to news agency Reuters, President Trump made this announcement in an executive order on Wednesday. Earlier, on August 4, the US president had threatened to impose new tariffs on India for buying oil from Russia. In a post on the social media Truth Social, he alleged that India is buying a huge amount of oil from Russia. And is making huge profits by selling it on the open market at high prices. Trump wrote in his Truth Social post that India is not only buying a huge amount of oil from Russia, they are also making huge profits by selling a large part of that oil on the open market. They have no problem with how many people are dying in Ukraine due to the Russian war machine. He then threatened that he would further increase tariffs on India, but he did not specify the new tariff rate.<\/p>\n","protected":false},"excerpt":{"rendered":"
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