Trump doubles India tariffs to 50% for buying Russian oil
US President Donald Trump on Wednesday slapped an extra 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.
06 August 2025 15:42:49
Source: Sharecast
In an executive order, Trump also said he would set up "a process for the potential imposition of similar tariffs on other countries that directly or indirectly import oil from the Russian Federation". The move means India now faces duties of 50%.
The new tariffs are set to go into effect in 21 days, according to the order.
Reporting by Frank Prenesti for Sharecast.com
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
IWeb is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
