In a bold move, U.S. President Donald Trump announced on Tuesday that he plans to significantly raise tariffs on imports from India. Currently set at 25%, Trump indicated that this rate could increase “very substantially” within the next 24 hours. This decision comes as a direct response to India’s ongoing purchases of Russian oil.
Trump’s announcement raises questions about the future of U.S.-India trade relations. The potential for increased tariffs could have significant implications for Indian exporters who rely heavily on the U.S. market. This situation underscores the complex dynamics of international trade and how geopolitical issues, such as oil purchases from Russia, can influence economic policies.
