US EditionTrump says he will 'substantially' raise tariffs on India over Russian oil purchases
- On Monday, U.S. President Donald Trump declared plans to increase tariffs significantly on imports from India in response to its purchase of Russian oil.
- India started purchasing Russian oil after many of its usual sources were redirected to European countries following Russia's invasion of Ukraine in 2022.
- India is buying large amounts of Russian oil and reselling much of it on the open market for significant profits, while rejecting the U.S. criticism as unjustified.
- Trump said he would impose a minimum 25% tariff on Indian goods and that India faces an unspecified penalty, but he gave no further details.
- India asserts its commitment to safeguarding its priorities and economic stability, and intends to continue buying Russian oil despite the threat of tariffs.
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Trump Raises India Tariffs to 50% Over Russian Oil Purchases - News Addicts
President Donald Trump announced Wednesday that he will double tariffs on India in 21 days if the country continues importing oil from Russia. In a formal White House proclamation, Trump said India’s refusal to cut off Russian energy purchases during the war in Ukraine has forced the U.S. to take economic action. “I find that […] The post Trump Raises India Tariffs to 50% Over Russian Oil Purchases appeared first on News Addicts.
Donald Trump uses tariffs to put pressure on India. Talks about a trade agreement are stalling. New Delhi should not buy oil from Russia and Iran. Do traditional friendly relations end?
After six months of pacifying Moscow without achieving any success, U.S. President Donald Trump seems to have decided to use the weapon of the sanctions...
Premium Times Nigeria
Freedom OnlineTrump threatens India with new tariffs ‘in next 24 hours’
“We settled on 25 per cent, but I think I’m going to raise that very substantially over the next 24 hours." The post Trump threatens India with new tariffs ‘in next 24 hours’ appeared first on Premium Times Nigeria.
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