President Trump on Monday said he would be "substantially raising" tariffs on India as he presses the nation over its purchases of Russian oil, effectively accusing the nation of subsidizing Russia's war in Ukraine.
"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 alleged on Truth Social. "They don’t care how many people in Ukraine are being killed by the Russian War Machine."
Trump has trained his sites on both India and China over its purchases of Russian oil. China called the demand a key hurdle in trade talks, while India hasn’t committed to stopping purchases and is urging citizens to support local goods.
India is facing 25% tariffs on its exports to the US under plans Trump moved into action last week.
Trump signed an order to hike tariffs on Canada to 35%, while setting rates from 10% to 40% on dozens of partners. Those duties are set to come into full effect this week as Trump looks set to dramatically change the US trade landscape. US Trade Representative Jamieson Greer said that the latest round of tariffs are "pretty much set" and unlikely to change.
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