“Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,” according to a statement from India’s Ministry of External Affairs.
NEW YORK, Aug. 4 (Xinhua) — U.S. President Donald Trump on Monday threatened to “substantially” raise tariffs on goods imported from India with the excuse that India bought and resold Russian oil.
“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,” Trump said in a post on Truth Social.
Indian goods imported into the United States will be subject to a 25 percent tariff starting Aug. 7, according to an executive order signed by Trump on July 31.
Besides the 25 percent tariff, Trump had earlier said he would impose a penalty for India’s purchase of Russian oil, without elaborating on details.
In early April, Trump announced 26 percent reciprocal tariffs on Indian goods in addition to the 10 percent baseline tariffs, but he then paused the imposition of such tariffs.
In response to Trump’s new threat, India’s Ministry of External Affairs said in a statement that “the targeting of India is unjustified and unreasonable,” and that India’s oil imports are meant to “ensure predictable and affordable energy costs” for Indian consumers.
“Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,” according to the statement on the ministry’s website.
The U.S. goods trade deficit with India was 45.8 billion U.S. dollars in 2024, up 5.9 percent from 2023, according to the Office of the United States Trade Representative.
Many countries have voiced strong opposition to the recent U.S. tariff measures.■
