Trump to Raise India Tariffs Over Russian Oil Trade

During a Monday statement President Donald Trump declared his plan to increase tariffs against India because the country continues buying Russian oil despite ignoring Ukraine's war and making profits from resales.
The Truth Social post from Trump stated that India purchases large quantities of Russian oil before selling it on the market to earn substantial profits. The new tariff percentage remains unspecified by him.
The former president announced his intention to impose a 25% tariff on Indian imports while warning about additional trade restrictions without providing details. The Indian government maintained its Russian oil imports throughout the weekend according to local media reports despite U.S. warning threats.
The fifth-largest economy in the world India has dramatically increased its Russian crude oil imports since Moscow launched its 2022 invasion of Ukraine and then exports the refined products to U.S. and European markets. The Biden administration expressed disapproval about the trade but avoided direct sanctions by advocating for price caps. The recent statements from Trump indicate Washington and New Delhi might experience increased trade tensions which could impact pharmaceuticals and textile imports.