Trump signs order to impose additional 25-pct tariff on Indian goods

U.S. President Donald Trump signed an executive order Wednesday announcing an additional 25-percent tariff on goods imported from India in response to its Russian oil purchases, a White House statement said.

The order, set to go into effect on August 27, will raise tariffs on Indian goods to a whopping 50 percent alongside a separate 25-percent duty starting Thursday.

Trump on Monday threatened to "substantially" raise tariffs on goods imported from India with the excuse that India had bought and resold Russian oil.

In a sharp reaction to the U.S. announcing additional 25 percent tariffs on Indian imports, Indian Ministry of External Affairs spokesman Randhir Jaiswal said that it was "extremely unfortunate" that the U.S. chose to impose additional tariffs on India.

"The U.S. has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," said the spokesman in an official statement.

The statement reiterated the U.S. administration's additional 25 percent tariffs on imports from India are "unfair, unjustified and unreasonable," and declared that New Delhi would take all actions necessary to protect its national interests.

According to the U.S. Department of Commerce, trade in goods between the two countries was approximately 128.8 billion U.S. dollars in 2024, with India registering a trade surplus of about 45.8 billion U.S. dollars.

Trump signs order to impose additional 25-pct tariff on Indian goods

Trump signs order to impose additional 25-pct tariff on Indian goods

Trump signs order to impose additional 25-pct tariff on Indian goods

Trump signs order to impose additional 25-pct tariff on Indian goods

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025