To put additional tariffs on India on its oil imports from Russia, the United States move on Wednesday as “unfair, inappropriate and unfair,” as the Ministry of External Affairs (Mea) announced that New Delhi “took all the action required to protect its national interests”.
In an official statement, Mea said, “The United States has targeted India’s oil imports from Russia in recent times. We have already clarified our position on these issues, including the fact that our imports are based on market factors and have been done with the overall objective of ensuring the energy security of 1.4 billion people of India.”
The statement said, “It is so unfortunate that America should opt for additional tariffs on India for those tasks that many other countries are also taking in their national interest.”
“We reiterate that these actions are inappropriate, inappropriate and unfair. India will take all the tasks necessary to protect their national interests,” the MEA insisted.
This came when US President Donald Trump on Wednesday signed an executive order, which was imposing an additional 25 percent tariff on imports from India.
According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as to increase other relevant trade laws, claiming that India’s imports, directly or indirectly, are “unusual and extraordinary threats” to the United States.
Following the order, the total tariff on Indian goods will be 50 percent. While the initial duties become effective on August 7, the additional levy will become effective after 21 days and will be imposed on all Indian goods imported in the US, in addition to completion of goods or specific discounts already.
The executive order also allows for amendments based on changing circumstances, including other countries a potential vengeance or steps taken by Russia or India to address the national emergency.
“Accordingly, and in accordance with the applied law, India’s articles imported into the Customs sector of the United States will be subject to an additional advertisement valorem rate of 25 percent of the duties,” the order stated in the order.
“This rate of duty would be effective in relation to the goods recorded for consumption, or withdrawn from the warehouse for consumption, 21 days after the date of this order, after the East day light at 12:01 pm, leaving the goods (1) was loaded on a vessel at the port of loading, which was on the final mode of transit before 12:01 (AI)
