On August 25th local time, the US Department of Homeland Security issued a notice to impose a 50% tariff on Indian goods starting from 00:00 on August 27th.
According to Bloomberg, the notice states that tariffs will apply to "all Indian goods imported for consumption or stored for extraction for consumption".
The overall tariff rate imposed by the United States on the Inca will increase to 50%
On August 6th, US President Trump signed an executive order imposing an additional 25% tariff on Indian exports to the US, citing India's "direct or indirect import of Russian oil" as the reason. The announcement states that, with some exceptions, the new tariff measures will be implemented 21 days after the administrative order is announced.
According to the executive order signed by Trump on July 31st, the United States will impose a 25% tariff on Indian goods imported to the United States starting from August 7th. After being combined with the additional tariffs announced on the 6th, Indian goods imported to the United States will be subject to an overall tariff rate of 50%.
In response, the Indian side stated that the US's imposition of tariffs on India is "unfair, unjust, and unreasonable", and India will "take all necessary actions" to safeguard its national interests.
|
