Additional duty 25% imposed US President Donald Trump on products exported by India For the purchase of Russian energy, the White House said on Wednesday (6.8.25), a few hours after the talks between Washington and Moscow on the War in Ukraine failed to lead to some significant development.
The new tax on India- which will be added to a 25% special duty by country to be implemented tonight- will be valid within 21 days, according to an executive decree signed by Donald Trumpaccording to Bloomberg.
“They feed the war machine. And if they are going to do this, then I will not be happy, “Trump said on Tuesday (5.8.25) in an interview with CNBC, referring to the markets Russian energy from India.
The ETF Ishares MSCI India fell low after Trump’s announcement. Oil prices rose and Indian rupee fell abruptly against the dollar.
Trump escalated his confrontation with India for trade, unilaterally imposing a tariff rate after months of negotiations that failed to secure an agreement. He accused New Delhi of refusing to facilitate access to American goods and criticized his joining BRICS team of developing economies.
The US president also expressed his disappointment to Russian leader Vladimir Putin, as efforts to achieve a truce with Ukraine have made little progress. Trump gave Moscow a deadline until August 8 to reach a ceasefire or face possible sanctions and threatened the trade partners with the so -called secondary duties to discourage Russian energy markets.
The Kremlin said a meeting between Putin and US envoy Steve Whitkov earlier on Wednesday only brought about an exchange of “signals”.
“For our part, in particular, some signals have been transferred to the Ukrainian issue,” Russian President Yuri Usakov’s foreign policy assistant, without any details, told reporters. “Similar signals were also obtained by President Trump.”
Usakov said that the negotiations that lasted almost three hours were “useful and constructive” and also focused on the prospects for the development of US-Russia relationships. Moscow will wait for Whitkov to report to Trump before commenting further, Usakov added.
Prior to the talks, Trump implied that he would impose increased duties on other countries, including China, which, like India, buy energy from Russia.
“We will do this enough. We will see what happens in the next few short time, “Trump told reporters.
Ukraine allies have said that energy markets from India, China and other nations have supported Putin’s economy and have reduced the pressure on Moscow to end a war now in its fourth year.