Trump Targets India's Oil Trade with Russia
Former President Donald Trump announced plans to increase tariffs on India due to its large purchases of Russian oil, which India resells for profit. Trump criticized India's actions amidst the ongoing conflict in Ukraine and hinted at additional penalties, though specifics weren't provided.
Former U.S. President Donald Trump announced on Monday that he intends to significantly raise tariffs on India. This move targets India's large purchases of Russian oil, which Trump claims India sells on the open market for profits.
Trump accused India of disregarding the casualties in Ukraine resulting from Russia's military actions. As a result, he plans to implement substantial tariff increases on Indian imports to the U.S.
The details of these new tariffs remain unspecified, though Trump previously mentioned a potential 25% tariff on Indian goods. Indian officials, requesting anonymity, indicated the country will continue its oil imports from Russia despite Trump's threats.
(With inputs from agencies.)
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