Trump Tariff News LIVE: US President Donald Trump on Wednesday unleashed an additional 25% tariff on India, taking the total US tariffs on India at 50%. In an executive order signed today, Trump said the new US tariffs on India were imposed due to its purchase of oil from Russia.

Donald Trump had earlier threatened penalties for India over Russian oil imports when he announced the 25% tariff last week.

The latest Trump tariff move is likely to hit sectors such as textiles, marine and leather exports hard.

Donald Trump New Announcements on Additional 25% Tariff

“The ad valorem duty imposed…shall be in addition to any other duties, fees, taxes, exactions, and charges applicable to such imports…,” the order said.

“I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent,” it added.

The exempted goods, which will not be subject to the high tariffs, include pharmaceutical; energy products such as crude oil, refined fuels, natural gas, coal, and electricity; critical minerals; and a wide range of electronics and semiconductors, like computers, tablets, smartphones, solid-state drives, flat panel displays, and integrated circuits.