Trump Threatens Higher Tariffs on India

• US President Donald Trump threatens to impose “substantially” higher tariffs on India due to India’s oil purchases from Russia.

• Trump stated that India is profiting from these purchases and will be “substantially” raising the tariff paid by India to the USA.

• The tariffs are paid by importers in the U.S., not the country on which they are levied.

• Trump previously announced a 25% tariff on imports from India on July 31.

• He also stated that India’s tariffs are “far too high.”