US President Donald Trump
U.S. President Donald Trump warned India of “very substantial” tariff hikes within the next 24 hours because India is buying Russian oil.
Trump told CNBC on Tuesday, “We settled on 25 per cent, but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil”.
Trump accused India of “fueling the war machine” by purchasing Russian oil amid Russia’s conflict with Ukraine.
“They’re fueling the war machine. And if they’re going to do that, then I’m not going to be happy,” Trump said.
India’s Ministry of External Affairs described Trump’s threat as “unjustified and unreasonable”, pointing out that Western countries themselves encouraged India to buy Russian oil to stabilize global energy markets after the Ukraine conflict began.
Russia defended India’s right to choose its trade partners, with Kremlin spokesperson Dmitry Peskov stating that sovereign countries have the right to decide on their trade and economic cooperation. Peskov deemed U.S. pressure on India as “not legitimate.
Trump criticized India’s high tariffs, saying, “We do very, very little business with India because their tariffs are so high”.
The U.S.-India trade deficit stands at $45.7 billion, with India exporting $87.4 billion to the U.S. and importing $41.8 billion from the U.S. in 2024.
This tariff threat comes amid broader tensions over trade and Russia’s war in Ukraine. India’s continued purchase of Russian oil despite Western pressure has been a sticking point.
Trump plans to impose sanctions on Russia’s trading partners if his ceasefire deadline passes without result.
