Trump Announces Plan to Raise Tariffs on Indian Imports Over Russian Oil Trade
Washington, D.C. – Former U.S. President Donald Trump has announced plans to significantly increase tariffs on goods imported from India, citing the country’s continued purchase and resale of Russian oil.
In a statement issued on Monday, Trump expressed concern over India’s energy trade with Russia, claiming the country is profiting from the resale of Russian oil while remaining indifferent to the ongoing conflict in Ukraine.
“India is purchasing large quantities of Russian oil and reselling it on the open market for substantial profit,” Trump stated. “They don’t seem to care how many lives are being lost due to the war in Ukraine. Because of this, I will be substantially raising the tariffs paid by India to the United States.”
Tariff Hike May Reach 25 Percent
Last week, Trump had signaled intentions to impose a 25 percent tariff on Indian imports. While he hinted at possible additional penalties, no specific details have been provided thus far.
This development marks a potential shift in U.S.-India trade relations and could have broader implications for global energy dynamics and diplomatic engagement, especially as countries navigate the geopolitical tensions stemming from the Russia-Ukraine conflict.
Impact on Bilateral Trade
India is a major trading partner of the United States, with goods traded between the two nations valued at over $190 billion annually. An increase in tariffs could affect key export sectors including pharmaceuticals, textiles, automotive parts, and technology services.
Analysts note that any significant changes in tariff policy could influence both diplomatic ties and global supply chains, particularly amid evolving discussions around energy security and international sanctions.
Stay tuned for further updates as the situation develops and official responses from Indian authorities are anticipated.
