Trump vows to ‘substantially’ hike India tariff with 25% rate set to take effect Thursday
By Ryan King
WASHINGTON — President Trump vowed Monday to “substantially” jack up the US tariff on imports from India due to New Delhi’s continued purchase of Russian oil as Moscow’s invasion of Ukraine grinds on.
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump warned on Truth Social.
“They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA.”
President Trump speaking outdoors.
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Trump vowed Monday to “substantially” jack up the US tariff on imports from India.
Getty Images
Vladimir Putin and Narendra Modi shaking hands.
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Trump blamed the move on New Delhi’s continued purchase of Russian oil.
AFP via Getty Images
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Last week, Trump announced the US would charge a 25% duty on imports from India effective at 12:01 a.m. Thursday.
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That is one day ahead of the Aug. 8 deadline Trump has given to Russia to pursue peace with Ukraine or face secondary sanctions or tariffs — penalties on countries that continue purchasing oil from Moscow.
Oil refinery in Mumbai, India.
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An oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India.
Bloomberg via Getty Images
India and China are widely seen as the two largest purchasers of Russian oil, which has helped the Kremlin withstand crippling sanctions and finance its war.
Trump special envoy Steve Witkoff is expected to travel to Russia Wednesday to take another crack at persuading the Kremlin to begin negotiations.
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