Trump's new tariffs on India over Russian oil
President Donald Trump announced on Monday that he would "substantially" increase tariffs on imports from India.
The move is in reprisal for what he described as India's "massive" trade in Russian oil, according to Agerpres, citing Reuters and DPA.
Trump's latest statement follows an announcement he made last week that the U.S. would impose a 25% tariff on India, effective August 7. This tariff would be in addition to an unspecified penalty. Trump said he intends to sanction India for its massive imports of Russian products and purchases of Russian weaponry, as India has been a traditional client of the Russian military industry since the Cold War.
"India is not only buying massive amounts of Russian oil, but it's also reselling much of that oil on the open market for huge profits. They don't care how many people are being killed in Ukraine by Russia's war machine," Trump wrote on Monday on his Truth Social platform. "Because of this, I will substantially increase the tariffs India pays to the U.S.," he added, without providing more details.
Indian government sources told Reuters over the weekend that India would continue to purchase Russian oil despite Trump's threats.
In an ultimatum issued last week to Russian President Vladimir Putin to end the war in Ukraine within ten days, the U.S. President also threatened secondary tariffs on countries buying Russian oil.
Following Trump's announcement last week, the Indian government stated it would take "all necessary measures to protect the national interest." It also noted that India and the U.S. have been engaged in recent months in negotiations for a "fair, balanced, and mutually beneficial" trade agreement.
Translation by Iurie Tataru
