Indian Thought Latest News & Views
New Delhi: India has strongly criticized the 50 percent additional tariff imposed by the US on oil imports from Russia. India (India’s) says that this step is ‘unfair, unjust and unnecessary’. The government clarified that India’s oil imports are done for the purpose of meeting the market needs and ensuring energy security of 1.4 billion Indians. A statement from the Ministry of External Affairs said, ‘We have already made our position clear. Our oil imports are based on market conditions and are aimed at meeting the energy needs of the country.’
‘This is completely unfair and unjustified’
India stressed in its statement that many other countries are also taking similar steps for their national interests, but America has targeted only India, which is injustice. The ministry further said, ‘It is very sad that America decided to impose additional tariff against India. We consider it completely unfair and unjustified.’ Through its statement, India made it clear that it will take every necessary step to protect its national interests. This dispute started when America raised questions about India’s oil imports from Russia and first announced 25 percent and then 50 percent additional tariff.
Additional 25 percent tariff will be implemented from August 27
Let us tell you that US President Donald Trump took a big decision on Wednesday and ordered to impose 25 percent additional tariff on Indian goods. With this, a total of 50 percent duty will now be imposed on Indian products in America. Trump had announced a 25 percent tariff last week, and now this tariff has increased further after the new order. Trump signed the executive order just hours before implementing this new tariff. Under this order, 50 percent tariff will be imposed on all Indian products except some special goods. The initial 25 percent tariff will be applicable from August 7, while the additional 25 percent duty will start 21 days later i.e. from August 27.
Trump had warned of additional tariff on Tuesday
Let us tell you that on Tuesday Trump had warned that if India continues to buy oil and gas from Russia, he will impose heavy duty within 24 hours. Trump says that Russia is using the money from oil sales from India in the war against Ukraine, but India is ignoring this to get cheap oil. Earlier on July 30, Trump had also announced a 25 percent duty on Indian goods and said that India would be fined separately for buying oil and gas from Russia. However, India has given a befitting reply to these steps of Trump.
