MercoPress. South Atlantic News Agency

Trump announces 50% tariffs on India for buying Russian oil

Trump has threatened 100% tariffs on countries that continue business with Russia unless a major peace deal with Ukraine is achieved

US President Donald Trump on Wednesday imposed an additional 25% tariff on imports from India in reprisal for buying Russian oil, bringing the total surcharge to 50%. Washington claims Prime Minister Narendra Modi's Government was “fueling the war machine” by funding Russia's military deployment in Ukraine.

The move is projected to cut exports to the US by 40-50%. The new tariffs would go into effect 21 days from Wednesday, which gives Russia and India enough time to seek alternatives. India now exports large volumes of refined fuels – much of it made from Russian oil – to European Union (EU) buyers.

India thus joined fellow BRICS member Brazil as one of the hardest hit countries by Trump's trade offensive, albeit for different reasons. Luiz Inácio Lula da Silva's country was punished for Supreme Federal Court (STF) Justice Alexander De Moraes' rulings against former President Jair Bolsonaro and other rightwing politicians.

“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,” Trump wrote in his executive order.

Modi's government has called the tariffs “unjustified and unreasonable,” stating that energy purchases from Russia were based on market factors and of an essential nature for its 1.4 billion people. India has also accused the US and other Western nations of hypocrisy, noting that they also continue to trade with Russia. In addition, China buys oil from Russia as well, but it was not punished so harshly - only 30% - because of Beijing's critical minerals, which are vital for US defense and technology.

Trump had warned that steep tariffs would be imposed, including a “penalty” over continued purchases of military equipment and energy from Russia, being Moscow's third-biggest importer and consumer. Trump has also threatened new sanctions unless Moscow ends the war in Ukraine.

“We reiterate that these actions are unfair, unjustified, and unreasonable,” Indian Foreign Ministry Spokesman Randhir Jaiswal said in a statement.

The US President has threatened 100% tariffs on countries that continue business with Russia unless a major peace deal with Ukraine is achieved.