Hodeida: The United States began imposing 50% tariffs on India on Wednesday due to its purchase of Russian oil.
According to Yemen News Agency, the US Department of Homeland Security stated in an official notice that "the 50% rate will apply from today on all Indian goods intended for consumption in the American market with exemptions for sectors such as pharmaceuticals and electronic chips".
The new tariffs double previous US tariffs of 25% on Indian exports at a time when the Indian government considers these tariffs "unfair and unjustified" affecting the extended trade relations between the two countries.
Officials from the foreign and defense ministries of both countries participated in a virtual US-India dialogue yesterday on trade investment and regional developments without reaching substantive agreements.
It is worth noting that US President Donald Trump signed an executive order on the 6th of this month imposing additional 25% tariffs on India bringing the total tariffs imposed to 50% effective 21 days after the decision's signing.