Trump hikes India tariffs to 50% for buying Russian oil

President Donald Trump said he was doubling tariffs on India from 25% to 50%.

In an executive order, Trump says “I find that the Government of India is currently directly or indirectly importing Russian Federation oil” and due to those purchases, imports of Indian goods into the United States “shall be subject to an additional … rate of duty of 25%.”

The order says that the newly announced 25% will stack on top of the 25% Trump says he will hit India with on Wednesday night, when his sweeping global tariffs go into effect on most U.S. trading partners.

On Tuesday, Trump told CNBC, “India has not been a good trading partner, because they do a lot of business with us, but we don’t do business with them. So we settled on 25% [tariffs] but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil. They’re fueling the war machine.”

Trump has also been unhappy with companies recently pivoting their supply chains from China, which for a time he had 145% tariffs on, to other countries like India.

In a May social media post, Trump said “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else.”

Apple is set to announce an investment in the U.S. later Wednesday. Most of Apple’s most popular products are currently exempt from tariffs while the Commerce Dept. conducts a so-called Section 232 investigation.

Last quarter, India produced 44% of U.S. smartphone imports, more than any other country, including China, according to data from the research firm Canalys reported by Bloomberg. That includes iPhones sold in the U.S., the majority of which Apple chief executive Tim Cook said in May will have India as their country of origin starting this quarter.