Trump Hikes India Tariffs To 50% For Buying Russian Oil

President Donald Trump said he was doubling tariffs connected India from 25% to 50%.

In an executive order, Trump says "I find that nan Government of India is presently straight aliases indirectly importing Russian Federation oil" and owed to those purchases, imports of Indian equipment into nan United States "shall beryllium taxable to an further ... complaint of work of 25%."

The bid says that nan recently announced 25% will stack connected apical of nan 25% Trump says he will deed India pinch connected Wednesday night, erstwhile his sweeping world tariffs spell into effect connected astir U.S. trading partners.

On Tuesday, Trump told CNBC, "India has not been a bully trading partner, because they do a batch of business pinch us, but we don't do business pinch them. So we settled connected 25% [tariffs] but I deliberation I'm going to raise that very substantially complete nan adjacent 24 hours, because they're buying Russian oil. They're fueling nan warfare machine."

Trump has besides been unhappy pinch companies precocious pivoting their proviso chains from China, which for a clip he had 145% tariffs on, to different countries for illustration India.

In a May societal media post, Trump said "I person agelong agone informed Tim Cook of Apple that I expect their iPhone’s that will beryllium sold successful nan United States of America will beryllium manufactured and built successful nan United States, not India, aliases anyplace else."

Apple is set to announce an finance successful nan U.S. later Wednesday. Most of Apple's astir celebrated products are presently exempt from tariffs while nan Commerce Dept. conducts a alleged Section 232 investigation.

Last quarter, India produced 44% of U.S. smartphone imports, much than immoderate different country, including China, according to information from nan investigation patient Canalys reported by Bloomberg. That includes iPhones sold successful nan U.S., nan mostly of which Apple main executive Tim Cook said successful May will person India arsenic their state of root starting this quarter.