US President Trump issues executive order imposing additional 25% tariff on India
The White House announced on Wednesday that United States (US) President Donald Trump issued an executive order, imposing an additional 25% tariff on goods from India, per Reuters.
The executive order noted that India directly or indirectly imported Russian oil.
Market reaction
Crude oil prices retreated from session highs following this development. At the time of press, the barrel of West Texas Intermediate was trading at $65.60, still up 0.65% on a daily basis.
Meanwhile, Wall Street's main indexes trade mixed, with the S&P 500 Index rising 0.2% and the Dow Jones Industrial Average trading marginally lower at 44,103 points.
Source: Fxstreet