U.S. President Donald Trump said on Monday he’ll substantially raise tariffs on India over its purchases of Russian oil.
India shouldn’t be only buying massive amounts of Russian Oil, they’re then, for much of the Oil purchased, selling it on the Open Market for large profits. They don’t care how many individuals in Ukraine are being killed by the Russian War Machine,” Trump said in a post on Truth Social.
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“For this reason, I can be substantially raising the Tariff paid by India to the USA.”
He didn’t elaborate on what the tariff could be.
Trump last week said he would impose a 25 per cent tariff on goods imported from India and added that the world’s fifth-largest economy would also face an unspecified penalty but gave no details.
Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite U.S. Trump’s threats. The sources didn’t want to be identified attributable to the sensitivity of the matter.
—Reporting by Doina Chiacu; Writing by Caitlin Webber; Editing by Doina Chiacu and Franklin Paul