By Punishing India Trump Is Creating More Tariff Damage for the U.S.
Today President Trump’s envoy Steve Witkoff had a three hour meeting with President Putin of Russia. There is no announcement yet of the outcome of the talk.
But shortly after the meeting was over President Trump amended this Executive Order:
ADDRESSING THREATS TO THE UNITED STATES BY THE GOVERNMENT OF THE RUSSIAN FEDERATION
I have received additional information from various senior officials on, among other things, the actions of the Government of the Russian Federation with respect to the situation in Ukraine. After considering this additional information, among other things, I find that the national emergency described in Executive Order 14066 continues and that the actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.
To deal with the national emergency described in Executive Order 14066, I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil. In my judgment, imposing tariffs, as described below, in addition to maintaining the other measures taken to address the national emergency described in Executive Order 14066, will more effectively deal with the national emergency described in Executive Order 14066.
Sec. 2. Imposition of Tariffs. (a) I find that the Government of India is currently directly or indirectly importing Russian Federation oil.
(b) Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent.
How a total 50% tariff on products from India is supposed to counter alleged threats to the United States by the government of Russia is hard to explain.
The increased tariff on India will come into force in 21 days.
India
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