Breaking: Trump Announces Sharp Tariff Hike on Indian Imports
Publish Time: 2025-08-05 Origin: Site
On August 4, former U.S. President Donald Trump declared on his social media platform Truth Social that he would significantly increase tariffs on Indian goods, accusing India of purchasing large volumes of Russian oil and reselling it on the open market for substantial profits.
Key Developments:
July Threat: Trump warned India via Truth Social that additional punitive tariffs would be imposed atop the existing 25% import duty if New Delhi continued buying Russian arms and oil.
Contradictory Claims: On August 1, Trump told reporters he believed India intended to halt Russian oil imports. However, Indian government sources cited by Reuters (August 2) stated that long-term contracts with Russia make an abrupt stop "not so simple," and emphasized India’s role in stabilizing global oil prices post-Western sanctions.
India’s Oil Trade Shift:
Pre-War (Jan 2022): 68,000 barrels/day from Russia.
Peak (May 2023): 2.15 million barrels/day — making Russia India’s top oil supplier (40% of imports), surpassing Middle Eastern producers.
Current Context: India consumes ~5.5 million barrels/day, with 88% imported.
Global Implications:
The move could escalate U.S.-India trade tensions, particularly affecting sectors like pharmaceuticals, textiles, and machinery.
India’s refusal to align with Western sanctions highlights its strategic autonomy in energy security.