U.S. President Donald Trump has announced a "significant" increase in tariffs on India. Last week, the U.S. President imposed a 25% tariff on Indian goods, escalating trade tensions between the two nations.
On Monday (July 4), Trump sharply criticized India on his social media platform, Truth Social. He stated that while Russia is killing people in Ukraine, India is purchasing oil from Russia and reselling it at higher prices. As a result, he declared that additional tariffs would be imposed on India.
In a post on Truth Social, Trump wrote, “India not only buys vast amounts of oil from Russia but also sells most of it in the open market for huge profits. India does not consider how many people in Ukraine are being killed by Russia’s war machine. For this reason, I will significantly increase the tariffs India pays to the United States.”
Trump did not specify when the additional tariff hike would take effect. Last year, India exported $87.4 billion worth of goods to the United States.
Last week, Trump stated that due to the significant trade deficit between India and the U.S., he would impose a 25% tariff on New Delhi. He also threatened penalties for countries purchasing Russian energy and military equipment.
In response to Trump’s threats, India’s Foreign Minister S. Jaishankar called the accusations unreasonable. He emphasized that, like other major economies, India would take necessary measures to protect its economic interests.
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