US tariffs live: Trump vows higher rates on India over Russian oil purchase, Kremlin calls threat illegal | World News
President Donald Trump signals while boarding Air Force One at Lehigh Valley International Airport, Sunday, Aug. 3, 2025, in Allentown, Pa. (AP Photo)India-US: US President Donald Trump has ratcheted up trade tensions with India, threatening steeper tariffs over what it claimed as New Delhi’s continued purchase of Russian oil. Trump accused India of reselling discounted Russian crude “for big profits” while ignoring the war in Ukraine. India hit back, calling the remarks “unjustified and unreasonable,” and vowed to protect its economic interests. The latest salvo deepens an already strained trade relationship, with India facing 25% tariffs on some goods and a potential escalation if oil imports continue.
Who’s facing higher tariffs: India joins a growing l of US trade targets, including China, Brazil, and parts of the EU, as Trump moves to reshape global commerce. Countries buying Russian energy face additional threats of sanctions and tariffs. Though Indian refiners briefly paused Russian oil purchases amid uncertainty, the government says there’s been no formal shift in policy. Officials also point to ongoing Western trade with Russia, calling out what they see as hypocrisy.Story continues below this ad
Who made deals and who is still waiting: Japan appears to have scored a partial win. Tokyo recently secured a deal to slash auto tariffs from 27.5% to 15% and is now sending its chief negotiator to Washington to press for quick implementation. Canada is also engaging diplomatically and its foreign and finance miners are visiting Mexico this week to reinforce trade ties amid separate US disputes. UK, EU and China have proposed trade agreements in place. But for India, as Trump’s Friday deadline for new sanctions approaches, the path ahead remains uncertain and closely watched.
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