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.
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
"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.
Meanwhile, former US Ambassador to the United Nations Nikki Haley has taken a dig at US President Donald Trump for his announcements about substantially hiking tariffs over oil imports from Russia, saying he had given "China a pass" and cautioned him against burning "a relationship with a
Indian auto component exporters are set to face a competitive disadvantage in the United States market following the imposition of a 25 per cent tariff on Indian goods by US President Donald Trump, says a recent report by rating agency ICRA.
Russia's Foreign Ministry Spokeswoman Maria Zakharova responded sharply to the sanctions and restrictions being imposed by Washington, which have impacted countries across the world. Calling it a "neocolonial agenda", she said that "politically motivated economic pressure" was being put o