The True Post (Web News) US President Donald Trump has announced additional tariffs on India.
In a statement on social media, the US President said that India is not only buying large quantities of Russian oil but is also making a profit by selling it on the open market. India does not care how many people the Russian war machine is killing in Ukraine. It may be recalled that in late May last month, US President Donald Trump had announced a 25% tariff on India.
The US President said that India will also have to pay a penalty for its continued purchase of military equipment and oil from Russia. This tariff will come into effect from August 1. The Indian government responded by saying that it is assessing the implications of Trump’s announcement and is committed to reaching a fair trade agreement with the US. The Indian government said that the US and India have been negotiating a fair, balanced and mutually beneficial trade agreement for the past few months. Our commitment to achieving the objectives of the trade negotiations remains intact.
India’s state-owned oil refineries have stopped buying Russian oil after US President Donald Trump threatened additional tariffs. A foreign news agency has reported, citing sources, that four Indian oil refineries stopped buying oil from Russia last week. India is the world’s third-largest oil importer and the largest buyer of Russian offshore crude. According to the news agency, Indian oil refineries and the energy ministry did not comment on the news. It should be noted that on July 14, US President Trump had threatened to impose a 100 percent tariff on countries buying oil from Russia.
Yesterday, Trump announced a 25 percent trade tariff and additional penalties on India for buying arms and energy from Russia. In his statement today, Trump announced a trade deal with Pakistan, saying that the United States would take steps to increase Pakistan’s oil reserves, perhaps one day when Pakistan would sell oil to India. India’s state-owned oil refineries have stopped buying Russian oil after US President Donald Trump threatened additional tariffs.
A foreign news agency has reported, citing sources, that four Indian oil refineries stopped buying oil from Russia last week. India is the world’s third-largest oil importer and the largest buyer of Russian offshore crude. According to the news agency, Indian oil refineries and the Ministry of Energy did not comment on this news. It should be noted that on July 14, US President Trump threatened to impose a 100 percent tariff on countries buying oil from Russia. Yesterday,
Trump announced a 25 percent trade tariff and additional penalties on India for buying arms and energy from Russia. In his statement today, Trump announced a trade agreement with Pakistan and said that the United States will take steps to increase Pakistan’s oil reserves, perhaps one day when Pakistan will sell oil to India.
