US President Donald Trump has indicated that he may significantly increase retaliatory tariffs on goods imported from India within the next 24 hours, citing India’s purchase of Russian oil. He made these remarks in an interview with the US media outlet CNBC on Tuesday.
In the interview, Trump stated, “India is not a good trading partner. They do a lot of business with us, but we don’t do any business with them. So, we set a 25% tariff. But I think within the next 24 hours, I’m going to increase it substantially because they’re buying Russian oil.”
This threat comes as the US is set to implement retaliatory tariffs on various countries starting August 7. On Monday, Trump posted on his social media platform, Truth Social, that he would raise tariffs on Indian goods due to India’s purchase of Russian oil, stating that India would have to pay these tariffs to the US.
On July 31, Trump issued an executive order specifying retaliatory tariffs on multiple countries. According to the order, a 25% tariff was imposed on Indian goods, along with an additional unspecified penalty for purchasing oil from Russia. However, no details were provided regarding the extent of the penalty. These tariffs are scheduled to take effect from August 7.
Since the onset of the Russia-Ukraine war, India has been importing significant amounts of Russian oil, a move that has raised concerns in Washington. According to Bloomberg, citing sources, the New Delhi government has not instructed Indian refineries to halt Russian oil purchases despite pressure from the US.
Note For Readers:
The CEO handles all legal and staff issues. Claiming human help before the first hearing isn't part of our rules.
Our system uses humans and AI, including freelance journalists, editors, and reporters.
The CEO can confirm if your issue involves a person or AI.
by 
