Responding to ANI, a White House official said that India's oil trade with Russia is significantly larger and more deliberate than the US's restricted imports of essential commodities.
During the White House press conference, responding to a question on why India was being singled out despite other countries also trading with Moscow, Trump said, "It's only been 8 hours. So let's see what happens. You're going to see a lot more... You're going to see so much secondary sa
While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific exemptions.
Congress leader Rahul Gandhi on Wednesday slammed the United States for imposing an additional 25 per cent tariff on India for buying Russian oil, terming it "economic blackmail" to bully New Delhi into an unfair trade deal.
"Look, India and Russia have a very old relationship. And Russia is a trusted friend of ours. If we're importing oil from Russia, the reason for that is that we have to look at our oil security in our agriculture sector and transport sector. And it is not that we are doing it only through Ru
"It is disappointing to see additional tariffs being announced at a time when we are actively working towards resolving the earlier differences and to strengthen our trade relationship through a trade agreement. Announcing another 25% tariff places unnecessary strain on the trade environment
The Global Trade Research Institute (GTRI) on Wednesday called the United States' decision to impose an additional 25 per cent tariff on Indian imports "hypocritical", highlighting Washington's selective approach towards its allies and China when it comes to their trade relations with Mos
"I think he (Trump) is continuing on this irrational path. This is driven by a certain kind of personal antagonism, more than any reasonable negotiation, discussion or policy," Trigunayat told ANI.
"Two strong steps we can take today are: 1. Radically Improve Ease of Doing Business --India must go beyond incremental reform and create a genuinely effective single-window clearance system for all investment proposals. --While states control many investment regulations, we can begin wit
"We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA said.
The US reciprocal tariffs will affect approximately USD 8.1 billion worth of India's exports to the US, while the overall impact on India's economy remains manageable, said an analysis by the Industry body PHDCCI.