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Trump Threatens Tariff Hike on Indian Exports Over Russia Oil Trade
Trump Threatens Tariff Hike on Indian Exports Over Russia Oil Trade
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BTCCSquare news:
Former U.S. President Donald TRUMP has vowed to impose higher tariffs on Indian exports, citing Prime Minister Narendra Modi's continued oil trade with Russia. In a Truth Social post, Trump accused India of profiting from discounted Russian crude while ignoring the humanitarian toll of Moscow's war in Ukraine. The threat follows a 25% tariff announced last week after failed trade negotiations between Washington and New Delhi.
Indian officials appear unmoved by the warning. Neither state-run nor private refiners have received government directives to curb Russian oil imports. With an August 8 ceasefire deadline looming, the U.S. has warned of secondary sanctions against nations still purchasing Russian energy—a category that includes India.
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