Finance
With effect from August 27, the US government has decided to increase taxes on Indian imports, adding a 25 percent duty for buying Russian oil.
The overall tariffs on Indian goods entering the US will rise to 50% as a result of this decision.
The Department of Homeland Security (DHS) confirmed that the new measures will take effect from “12:01 am Eastern Daylight Time on 27 August as per their latest draft notice”.
According to the draft notice issued by the DHS, the duties target India under the policy of countering “threats to the United States by the government of Russian Federation”.
“The duties set out in the Annex to this document are effective with respect to products of India that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am Eastern Daylight Time on August 27, 2025,” it stated.
“To address that unusual and extraordinary threat to the national security and foreign policy of the United States, Executive Order 14066 prohibited, among other things, the importation into the United States of certain products of Russian Federation origin, including crude oil; petroleum; and petroleum fuels, oils, and products of their distillation,” the notice read.
The latest ruling covers a broad spectrum of Indian items. The memo clarified that any goods released from warehouses after the deadline or arriving for use in the United States are subject to the duties.
Trump said that the decision was related to India’s ongoing purchases of Russian oil, which Washington claims contributes to the financing of Moscow’s conflict with Ukraine.
As a result of concerns about US trade policies following the release of a draft notice by the US suggesting tariffs of up to 50% on Indian exports beginning on Wednesday, the Sensex and Nifty fell at the start of trading on Tuesday.
Source: IANS
