Update: Trump Threatens to Increase Tariffs on India Due to Its Purchase of Russian Oil

SadaNews Economy - U.S. President Donald Trump threatened on Monday to significantly increase U.S. tariffs on Indian goods due to India’s purchases of Russian oil, just days before the more severe tariffs he imposed on dozens of economies go into effect.

Trump stated in a post on his platform "Truth Social": "They do not care about how many people the Russian war machine kills in Ukraine. For this reason, I will significantly increase the tariffs that India pays to the United States."

The Indian Ministry of External Affairs responded to this decision by stating that its government will take all necessary measures to protect its national interests, noting that it began importing oil from Russia because traditional supplies were redirected to Europe.

It added: Washington had previously strongly encouraged New Delhi to import Russian oil to bolster energy market stability.

It continued: Our oil imports from Russia aim to ensure predictable and reasonable energy costs for consumers.

Trump had imposed a 25% tariff on India, along with an unspecified "fine" due to New Delhi’s purchases of arms and oil from Russia.

The new tariff imposed on India is slightly lower than what was announced in April; however, it is higher than the tariffs set for other Asian countries that have previously made trade deals with Washington.

India, the most populous country in the world, was one of the first major economies to engage in trade negotiations with the Trump administration.