Trump threatens to ‘substantially’ raise tariffs on Indian goods

Tavsif:

President Donald Trump announced plans to "substantially" raise tariffs on India over its continued purchase and resale of Russian oil. India, which currently faces a 10% minimum tariff, could see that rate rise to at least 25%. India pushed back, calling the move unfair and citing global market pressures that redirected oil supplies after the war in Ukraine began. The Indian government defended its imports as necessary for energy stability and noted that the U.S. and EU also trade with Russia, CNN has reported. The tariff threat comes as Trump pressures Russia to reach a ceasefire with Ukraine.