Trump says ‘will substantially raise’ tariff on India over import of Russian oil | World News
US President Donald Trump has activated fresh tension with India after posting a statement on Truth Social accusing the country of profiting off the ongoing Russia-Ukraine conflict.
In the post, “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 the Russian War Machine. Because of this, I will be substantially raising the Tariff paid India to the USA. Thank you for your attention to this matter!!! President DJT” he added.
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Last week, Trump announced a 25 per cent tariff on Indian goods from August 1, with an additional but unspecified “penalty” for its defence and energy imports from Russia.
India’s Commerce and Industry Minry said the government had taken note of Trump’s statement and is “studying its implications”. “India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” the minry said in a statement.
The government will take “all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK,” the minry said.
