CNBC Daily Open: Russian oil costs India big

India's acceptable to look a 50% tariff aft the White House announced an further 25% levy connected the South Asian state Wednesday implicit its purchases of Russian oil. That's present among the highest duties connected immoderate of the U.S.' trading partners.

New Delhi responded swiftly in a connection Wednesday, describing the U.S.' determination to rise tariffs arsenic "unfair, unjustified and unreasonable," and that the country's imports are based connected marketplace factors and to guarantee vigor information for its population.

Earlier connected Monday, India's Ministry of External Affairs called retired what it says is selective enforcement in a statement, adding that "it is revealing that the precise nations criticizing India are themselves indulging successful commercialized with Russia." It cited information that showed the EU's commercialized was "significantly more" than India's full commercialized with Russia.

And it seems that India isn't the lone state connected U.S. President Donald Trump's radar arsenic helium sets to punish countries that bargain lipid from Russia.

His latest enforcement bid besides directs his medication to "determine whether immoderate different state is straight oregon indirectly importing Russian Federation oil," and the actions, if any, that request to beryllium taken connected that country.

— Nur Hikmah Md Ali
—  CNBC's Erin Doherty contributed to this story.

U.S to enforce 50% tariff connected India implicit Russian lipid purchases. Trump announced successful an enforcement order Wednesday that the caller 25% duties volition come into effect successful 21 days, portion the antecedently announced 25% complaint volition footwear successful Thursday.

Semiconductor tariffs of 100%. Unless companies tin manufacture successful the U.S., Trump said Wednesday that helium would enforce that tariff complaint connected imports of semiconductors and chips into the country.

U.S. stocks summation connected Apple's investment. Markets gained Wednesday aft Apple's shares climbed 5% connected its accrued U.S. manufacturing investment. The European Stoxx 600 was flat, portion the Swiss Market Index fell 0.9% arsenic Swiss officials met with their counterparts to proceed tariff negotiations.

Apple commits $100 cardinal to U.S. expansion. Apple CEO Tim Cook and President Donald Trump unveiled the manufacturing boost Wednesday. That's connected apical of the $500 cardinal that the iPhone shaper announced successful February, and brings its full U.S. concern to $600 cardinal implicit the adjacent 4 years.

[PRO] Chip stocks person been going done a unsmooth thrust this net season. Texas Instruments, ON Semiconductor, Qualcomm, and Arm posted net beats but were met with steep sell-offs arsenic investors demand much than coagulated execution.

Why India is successful Trump's crosshairs erstwhile crude is not adjacent sanctioned

India was erstwhile encouraged to bargain Russian crude by the United States. It is 1 of the biggest buyers of Russian oil, according to information from Kpler, which shows full Russian crude exports magnitude to astir 3.35 cardinal barrels per day, of which India takes astir 1.7 million.

Sara Vakhshouri, the laminitis and president of SVB Energy International, told CNBC the hefty duties announced by Trump are a "negotiation tactic," aimed astatine "reclaiming mislaid U.S. lipid marketplace stock successful India and lipid export declines since 2022, and securing equivalent export of different commodity to India."

— Emma Graham