Friend turns foe? Trump warns of major tariff hike on India within next 24 hrs over Russian oil trade
PTC Web Desk: US President Donald Trump has signaled a possible sharp increase in tariffs on Indian goods within the next 24 hours, escalating trade tensions between the two nations. His latest remarks follow his earlier warning tied to India's continued purchase of Russian oil and military equipment.
During an interview with CNBC, Donald Trump flayed India’s trade practices, accusing the country of imposing disproportionately high tariffs on American exports. “India does a lot of business with the US, but we don’t have the same opportunity in their markets,” he said. “We settled on a 25% tariff, but I’m likely to raise it significantly within the next 24 hours.”
Trump linked the potential tariff hike to India’s growing energy ties with Russia, saying, “They are purchasing Russian oil and essentially funding a war machine. If they continue, I won’t be happy.”
The statement drew a sharp reaction from both Moscow and New Delhi. Russia condemned Trump’s comments, calling them veiled threats against its trading partners and a challenge to sovereign decisions. Meanwhile, the Indian government responded strongly, denouncing the US stance as “unjustified and unreasonable,” and reaffirmed its commitment to protecting national economic interests.
- With inputs from agencies
