Days after imposing a blanket 25% tariff on all Indian imports, US President Donald Trump has now signalled his intent to escalate the trade stance against the nation. Trump stated that the tariff rate would be raised “substantially” within the next 24 hours as India is buying Russian oil.
As reported by CNBC on Tuesday, Trump had previously considered implementing a 25% tariff for India but is now planning to raise it further, substantially, within the next 24 hours. Trump revealed his intent in an exclusive interview with CNBC on Tuesday.
Earlier, Trump had threatened to make the move as India continues to buy Russian crude oil despite the 25% so-called reciprocal tariffs from the US, as well as additional penalty tariffs over trade relations with Russia.
With Trump blaring on about the imposition of substantially increased tariffs after continual trade deals with Russia, the Kremlin has labelled the US pressure tactics as illegitimate as well.
Beyond India, similar ultimatums have been extended to Moscow, warning that unless there is “meaningful movement” towards a peace deal with Kyiv by Friday, fresh US economic penalties will follow — potentially targeting countries like India that continue to buy Russian energy.
Despite the Western sanctions since the 2022 invasion of Ukraine, Russia has successfully redirected much of its oil and gas exports towards Asia, as India and China have emerged as major buyers.
