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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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.
The U.S. president threatens to penalize New Delhi if he continues to buy Russian oil.
Trump again threatens very substantial tariff hikes for India over Russian oil
U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% �very substantially� over the next 24 hours, in view of New Delhi s continued purchases of Russian oil. MORE..
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