President Donald Trump has ordered a 25% tariff on imports from India over the South Asian country’s Russian oil purchases.
The executive order, issued Wednesday, cites the International Emergency Economic Powers Act, the National Emergencies Act, and section 604 of the Trade Act of 1974.
“To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil,” the order says.
Trump announced last week that India would face a 25% tariff and other unspecified “penalties” for purchasing Russian energy and military equipment amid the war in Ukraine.
This is a developing news story. Check back for updates.
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