The 25 per cent tariffs on Indian exports to the United States, as announced by President Donald Trump, came into effect on Thursday.
Last week, the White House had announced that India would be subject to the revised tariff structure following an executive order issued by President Trump. The order imposed tariffs on exports from nearly 70 countries.
The latest tariff wave of "reciprocal" duties, aimed at addressing trade practices Washington deems unfair, broadens the measures Trump has imposed since returning to the presidency.
India is among several countries affected by the revised duties, which came into force on Thursday.
Trump on Thursday took to his Truth Social to celebrate his August 7 deadline for implementing new duties and said "billions of dollars in tariffs" were now flowing into the United States.
He posted, "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!"
In a post made prior to this one, Trump said that the big amounts of money would flow in from countries that have “taken advantage” of the US for years.
“THE ONLY THING THAT CAN STOP AMERICA’S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL!” the US President wrote.
In addition to the 25 per cent tariff announced last week, Trump on Wednesday imposed another 25 per cent levies on India for its purchases of Russian oil, bringing the total duties slapped on India to 50 per cent, among the highest imposed by the US on any country in the world.
The additional 25 per cent duty will come into effect after 21 days or August 27.