The U.S. imposed a 50% tariff on Indian goods due to unresolved issues with Russian oil purchases.

US imposes 50% tariff on Indian goods

Washington had previously warned New Delhi that the 50% tariff on Indian goods would take effect on August 27.

The White House explained that the reason for this tariff is that India continues to purchase Russian oil. Five rounds of negotiations have been attempted to resolve this issue, but all have failed.

According to Bloomberg, Indian state and private refineries have recently reduced their purchases of Russian oil by about 20%, to 1.4 million to 1.6 million barrels per day.

The US has threatened to impose higher tariffs on Brazil and China if they continue to import Russian oil.

Evgeny Griva, Deputy Trade Representative of Russia in India, said that despite the high tariffs imposed by the US and the strong criticism from the White House, India will not stop purchasing Russian oil.

Original: www.toutiao.com/article/1841592492955867/

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