Trump says he will ‘very substantially’ raise tariffs on India in next 24 hours over Russian oil purchases

United States President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25 per cent “very substantially” over the next 24 hours, given India’s continued purchases of Russian oil. “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. So we settled on 25pc but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil,” he told CNBC in a televised interview. “They’re fuelling the war machine, and if they’re going to do that, then I’m not going to be happy,” Trump said, adding that the main sticking point with India was that its tariffs were too high.