Trump Imposes New 25% Tariff on India for Buying Russian Oil

President Donald TRUMP announced an additional 25% tariff on India, effective August 27, as part of broader efforts to pressure Russia. The White House cited India's continued oil purchases from Russia as the primary reason, layering this new tariff atop an existing 25% reciprocal duty set to take effect earlier in the week.

Trade negotiations between the U.S. and India have stalled, with no resolution reached despite extended deadlines. "[India is] fueling the war machine," Trump remarked during a CNBC interview, signaling a hardening stance. India's government condemned the MOVE as "unfair, unjustified, and unreasonable," arguing that similar actions by other nations have not triggered comparable penalties.

The White House hinted at potential expansion of tariffs to other countries engaged in significant trade with Russia, underscoring the geopolitical Ripple effects of the Ukraine conflict. Markets are watching for secondary impacts on commodity flows and currency valuations.