Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.

US President Donald Trump on Wednesday signed an order to impose an additional 25 per cent tariff on Indian goods over New Delhi’s continued purchase of Russian oil, a key revenue source for Moscow’s war in Ukraine.

Import taxes on Indian goods were already set to go to 25 percent after midnight Thursday. The rate would double in three weeks under a White House order.