Trump Threatens Tariff Hikes on India Over Russian Oil Purchases

BTCC / BTCC Square / Global Cryptocurrency /

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2025-08-04 19:00:02

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Former President Donald TRUMP announced plans to substantially increase tariffs on India, citing the country's continued purchases of Russian oil as a subsidy for Moscow's war efforts in Ukraine. The proposed measures could escalate trade tensions between the two nations.

Trump's allegations, made via Truth Social, claim India is profiting from reselling Russian crude on the open market. The MOVE follows last week's tariff adjustments affecting multiple trading partners, with rates ranging from 10% to 40%.

Trade experts anticipate these measures will significantly alter the U.S. trade landscape, with U.S. Trade Representative Jamieson Greer stating the latest tariff round is effectively finalized.

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