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EO 14384Executive OrderTrump 47 · R Quiet signal

Executive Order 14384

Modifying Duties To Address Threats to the United States by the Government of the Russian Federation

This executive order eliminates the 25 percent additional ad valorem duty on imports from India that was imposed by EO 14329 in August 2025, effective February 7, 2026. The removal is conditioned on India's commitments to stop importing Russian oil, purchase U.S. energy products, and expand defense cooperation with the United States over the next decade.

Federal Register Open PDF 91 FR 6501

Impact dates

  1. Secretary of Homeland Security to determine HTSUS modifications and publish in Federal Register

  2. 25% additional duty on Indian imports terminated; HTSUS modifications take effect

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Oil & gasSteel & aluminumAutosPharmaAgricultureTechnology & software

Mechanisms

Tariff

Role pressure

  • ProtectiveImporter — U.S. importers of Indian goods benefit from removal of 25% cost increase, restoring price competitiveness
  • AdverseDomestic producer — U.S. manufacturers competing with Indian imports face restored price pressure from eliminated tariff
  • ProtectiveTrading-partner exporter — Indian exporters regain U.S. market access at normal duty rates; significant relief for trade-exposed sectors
  • ProtectiveDownstream manufacturer — U.S. manufacturers using Indian intermediate inputs benefit from lower input costs

Geographies

USIN

Exposure dates

  • — 25% additional duty on Indian imports terminated; HTSUS modifications take effect

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

AAAlcoaGOOGLAlphabetAAPLAppleADMArcher Daniels MidlandBGBungeCATCaterpillarCENXCentury AluminumLNGCheniere EnergyCVXChevronCLFCleveland-CliffsCOPConocoPhillipsCTVACortevaLLYEli LillyXOMExxon MobilFFordGEVGE VernovaGMGeneral MotorsHYMTFHyundai MotorQQQInvesco QQQ TrustJNJJohnson & JohnsonMRKMerckMETAMeta PlatformsMSFTMicrosoftNVSNovartis

Confidence: high · Policy alerts

Key directives

  • Eliminate 25% additional ad valorem duty on imports of articles of India effective February 7, 2026
  • Terminate HTSUS headings 9903.01.84 through 9903.01.89 and subdivision (z) of U.S. Note 2
  • Secretary of State authorized to implement order using IEEPA powers
  • Secretary of Homeland Security to determine HTSUS modifications and publish in Federal Register
  • Secretary of Commerce to monitor whether India resumes Russian oil imports
  • Secretary of State to recommend additional action including potential reimposition of duties if India resumes Russian oil imports

Who is ordered

Timeline

Immediate

  • Termination of 25% additional duty on Indian imports effective 12:01 a.m. EST February 7, 2026
  • HTSUS headings 9903.01.84-9903.01.89 and subdivision (z) of U.S. Note 2 terminated
  • Duty refund processing begins for eligible entries

Near term (90d)

  • Secretary of Homeland Security to determine and publish HTSUS modifications via Federal Register notice
  • Monitoring mechanism activation for Indian oil import behavior

Long term

  • 10-year U.S.-India defense cooperation framework implementation
  • Potential reimposition of 25% duty if India resumes Russian oil imports
  • Continued structural shift in India energy sourcing patterns

Risks & tensions

  • Snap-back risk: 25% duty can be reimposed if India resumes Russian oil imports, creating policy uncertainty for traders
  • Monitoring definition of 'indirectly importing' Russian oil is vague and may lead to disputes
  • Conditioning trade policy on defense cooperation commitments blurs trade and security policy boundaries
  • Refund processing timeline unspecified; may create cash flow issues for importers
Executive Order 14384: Modifying Duties To Address Threats to the United States by the Government of the Russian Federation · Executive Orders