Donald Trump Tariffs News Live Updates: US stocks up as market shrugs off tariff increases
Donald Trump Tariffs News Live Updates: US President Donald Trump has signed an executive order to impose and additional 25% tariff on India, on the top of already imposed 25%. Earlier on Tuesday, Trump said that over the next 24 hours, the US will likely ‘very substantially’ raise tariffs on India for its purchase of Russian crude oil and refusal to stop. Donald Trump administration officials have accused India of helping ‘finance’ Russia’s war against Ukraine with its ongoing crude oil imports.
"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 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 in an interview with CNBC.
Donald Trump has brushed aside the reported offer of zero tariffs from India, saying that India’s crude oil trade with Russia is in focus. India on its part has remained defiant about its oil buys from Russia, saying it maintains the right to protect its national interests. Track the latest live news from Donald Trump’s tariff moves on TOI’s