Washington, Aug 5: United States President Donald Trump on Monday threatened to raise tariffs against India for buying ‘massive amounts’ of oil from Russia amid its war with Ukraine.Taking to Truth Social, Trump said, “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. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!
The Trump administration has already imposed a 25 per cent tariff along with additional penalties on India, citing New Delhi’s continued oil imports from Russia and longstanding trade barriers as key reasons behind the move. The tariffs are effective from August 1.