U.S. President Donald Trump announced he would impose an additional 25% tariff on India due to imports of Russian oil, prompting backlash from the Indian government.
On the 6th (local time), AFP reported that the Indian Ministry of Foreign Affairs refuted the U.S. announcement about imposing additional tariffs on its Russian oil purchases, calling it "a very regrettable measure" and stating it is "unfair, unjust, and irrational."
He also said, "We import based on market factors," adding, "Ensuring energy security for 1.4 billion Indian citizens is the ultimate goal." He continued, "It is extremely regrettable to impose additional tariffs on actions other countries take for their own interests."
India is currently the third largest crude oil importer in the world, following China and the United States, and imports 38% of its total crude oil from Russia.
Earlier, President Trump signed an executive order imposing an additional 25% tariff on Indian products in response to India's direct and indirect imports of Russian oil.
He stated, "I have learned that the Indian government is currently importing oil from the Russian Federation directly and indirectly," and added, "A 25% additional tariff rate will apply to Indian goods imported into U.S. territory under relevant laws." President Trump indicated that this order would take effect in three weeks.
India is set to impose a 25% country-specific reciprocal tariff starting from the 7th, which means that with the additional 25% tariff, the U.S. tariff rate on India will soar to 50% in three weeks.
In April, the United States imposed a 26% reciprocal tariff on India and held five rounds of negotiations, but the two countries could not reach an agreement. Last year, the U.S. recorded a trade deficit of $4.58 billion (approximately 6.23 trillion won) with India.