Trump Imposes Additional 25% Tariff on India Over Russian Oil Purchases

President TRUMP signed an executive order imposing a new 25% tariff on India, targeting its purchases of Russian oil. The levy, set to take effect in 21 days, will stack atop an existing 25% country-specific tariff. "They're fueling the war machine," Trump asserted in a CNBC interview, accusing India of financing Russia's war in Ukraine.

India's initial 25% tariff begins Thursday, part of broader duties ranging from 10% to 50% on imports from nearly 200 countries. Switzerland faces the steepest increase among developed nations at 39%. Trump also signaled impending tariffs on semiconductors and pharmaceuticals, with drug import duties potentially reaching 250%.

The MOVE follows a series of trade actions ahead of Trump's self-imposed deadline, including a 90-day tariff reprieve for Mexico and increased Canadian import duties to 35%.