US: After signing an executive order to impose an additional 25 per cent tariff on India if it continues to buy oil from Russia, President Donald Trump said he would also impose a number of secondary sanctions.

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US President Donald Trump on Wednesday signed an executive order to impose an additional 25 percent tariff on India for continuing to buy oil from Russia. With this, the tariff imposed on Indian products in the US has now increased to 50 percent. This move is expected to have a bad impact on sectors like textile, marine products and leather exports. Reacting to this development, India said that these steps are “unfair and unreasonable”. Not only this, after imposing an additional 25 percent tariff on India on Wednesday, Trump said that he will also impose many secondary sanctions.

America will now levy 50 percent tariff on Indian goods
The Ministry of External Affairs said in a statement that it is very unfortunate that America has decided to impose additional duty on India. Also, India will take all necessary steps to protect its national interests. Trump had announced to impose a 25 percent tariff on India last week. Along with this, he also said that India will be fined separately for doing business with Russia. After which he announced to impose an additional 25 percent tariff on India on Wednesday. After this order, the total tariff on Indian goods will be 50 percent except for some concessional goods.

Trump will impose many secondary sanctions on India

Trump is frustrated with the ongoing oil and military trade between India and Russia and is trying his best to suppress India by misusing his powers. But, India has also made it clear that it will not bow down to Trump’s decisions. Donald Trump said on Wednesday, after imposing an additional 25 percent tariff on India, “You will see many secondary sanctions.” This simply means that Trump is not completely happy even after imposing 50 percent tariff on India and he is now preparing to impose many secondary sanctions on India. Secondary sanctions are economic sanctions that are imposed on a country (India) that trades with a country (Russia) on which primary sanctions have already been imposed.

Initial tariff will be effective from August 7
The order announcing an additional 25 percent tariff on India on Wednesday said, “The tariff imposed in accordance with the price will be in addition to any other tariff, fee, tax, recovery and charge applicable to such imports.” The initial tariff will be effective from August 7, while the additional tariff will be implemented after 21 days. Trump had warned on Tuesday that he would announce a heavy tariff on India within 24 hours for buying oil and gas from Russia.