US President Donald Trump has threatened to “substantially” raise tariffs on Indian goods entering the United States in the next 24 hours, accusing New Delhi of profiting from the Russia-Ukraine war by reselling Russian oil on the global market.Speaking on CNBC’s Squawk Box, Trump also took aim at India’s trade barriers, calling it “the highest tariff nation.”
“They have the highest tariffs on anybody,” he said. “We do very, very little business with India because their tariffs are so high. India has not been a good trading partner because they do a lot of business with us but we don’t do a lot of business with them.”
Trump had issued a similar warning on Monday via his social media platform, Truth Social, though without mentioning a specific timeline.“India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits,” he wrote. “They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the tariff paid by India to the USA.”
“They have the highest tariffs on anybody,” he said. “We do very, very little business with India because their tariffs are so high. India has not been a good trading partner because they do a lot of business with us but we don’t do a lot of business with them.”
Trump had issued a similar warning on Monday via his social media platform, Truth Social, though without mentioning a specific timeline.“India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits,” he wrote. “They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the tariff paid by India to the USA.”
The warning follows a 25% tariff Trump imposed on Indian imports on July 30. The president did not specify what further measures were being considered.
(Edited by : Akanksha upadhyay)
