WASHINGTON: In light of India’s ongoing purchases of Russian oil, US President Donald Trump announced Tuesday that he would “very substantially” raise the 25% duty on imports from India over the course of the next day.
In an interview with CNBC, Trump stated that the primary issue with India was that its tariffs were excessive. “They’re fuelling the war machine, and if they’re going to do that, then I’m not going to be happy,” he said.
He didn’t offer India a new tariff rate.
However, in a display of political solidarity as a trade rift widens with Washington, India’s main opposition and ruling party denounced the US president’s “threat” to increase taxes on commodities it purchases from Russia.
