US moves ahead with plans to impose 50 per cent tariff on India, starting Wednesday

 The US administration has decided to raise tariffs on Indian imports, with an additional 25 per cent duty for purchasing Russian oil, which is set to take effect from August 27.

This decision will push the overall tariffs to 50 per cent on Indian goods entering the US.

The Department of Homeland Security (DHS) confirmed that the new measures will take effect from "12:01 am Eastern Daylight Time on 27 August as per their latest draft notice".

According to the draft notice issued by the DHS, the duties target India under the policy of countering "threats to the United States by the government of Russian Federation".

"The duties set out in the Annex to this document are effective with respect to products of India that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am Eastern Daylight Time on August 27, 2025," it stated.

"To address that unusual and extraordinary threat to the national security and foreign policy of the United States, Executive Order 14066 prohibited, among other things, the importation into the United States of certain products of Russian Federation origin, including crude oil; petroleum; and petroleum fuels, oils, and products of their distillation," the notice read.

A wide range of Indian goods is covered under the new decision. The document made clear that the tariffs apply to any items arriving for use in the United States or released from warehouses after the cut-off time.

Trump said the decision was linked to India's continued purchase of Russian oil, which Washington argues helps fund Moscow's war against Ukraine.

Meanwhile, Sensex and Nifty slipped at the opening on Tuesday, amid worries over American trade measures after the US issued a draft notice proposing tariffs of as much as 50 per cent on Indian goods, starting Wednesday.

IANS