In a fresh escalation of trade tensions, former US President Donald Trump has announced that the United States will raise tariffs on India, accusing New Delhi of profiting from Russian oil and undermining global efforts to isolate Moscow over its invasion of Ukraine.
Speaking to CNBC on Tuesday, Trump said India has not been a good trading partner and hinted at an imminent tariff hike. “We settled on 25 percent but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil,” he said.
He added, “India has not been a good trading partner, because they do a lot of business with us, but we don’t do business with them… They have the highest tariffs of anybody.”
In a scathing post on Truth Social, Trump doubled down:
“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 by the Russian war machine. Because of this, I will be substantially raising the tariff paid by India to the USA.”
Several former Trump administration officials have echoed the criticism, accusing India of financing Russia’s war by continuing large-scale crude imports and re-exporting refined oil to global markets.
India’s Ministry of External Affairs (MEA) swiftly responded, stating that its energy policy is guided by national interest and affordability for its 1.4 billion citizens. The MEA reminded that the US had previously acknowledged India’s oil imports from Russia as a stabilizing factor in global energy markets.
“The targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,” the statement added.
Despite the criticism, India continues to receive Russian crude oil, with multiple vessels offloading shipments as recently as this weekend.
