India Petroleum products such as Diesel and ATF (Aviation Turbine Fuel) to the US are exempted from import duty (tariff). Along with this, US President Donald Trump has not yet indicated which penalty they are planning to stop India’s energy trade with Russia. Donald Trump on Wednesday announced a 25 percent tariff on India, expressing concern over the existing trade obstacles. He also said that India will be fined separately due to energy and defense relations with Russia. The government order he later signed, he only implements 25 percent tariffs on Indian goods coming to America.
These Indian goods going to America will not take tariff
There is also a list of such items in the government order, which will not have any tariff. These goods include pharma products (tablets, injections and syrup), raw materials used in making medicines, electronics and ICT related items such as semiconductor, smartphones, SSDs and computers and petroleum products such as crude oil, LNG, refined fuel, electricity and coal. The executive order also does not indicate any fine imposed for Russian trade. According to official data, India exported 48.6 lakh tonnes of petroleum products to the US in FY 2024-25, which cost more than $ 4 billion.
Reliance Industries is the biggest exporter to fuel America
Reliance Industries is the largest exporter of fuel to America. Experts said that the business will continue to run normally for companies like India and Reliance as the fuel export is in the list of exemption. He said that if no penalty is imposed on India for oil imports from Russia, then it would be a matter of relief. At the moment, the US administration has not indicated any fine. India historically has been buying most of its crude oil from West Asia including Iraq and Saudi Arabia, but the situation changed after Russia’s attack on Ukraine in February 2022. India started buying Russian oil available on exemption on a large scale.
With PTI inputs
Latest business news
