Trump says he will raise tariffs on India soon over its Russian oil purchases

U.S. President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, given India's continued purchases of Russian oil.

"They're fueling the war machine, and if they're going to do that, then I'm not going to be happy," Trump told CNBC in an interview, adding that the main sticking point with India was that its tariffs were too high.

He did not provide a new tariff rate for India.

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