President Trump said on Monday that he would “substantially” increase rates on India. The actions have always remained in Rallye mode after Friday’s sale.
“India is not only buying massive quantities of Russian oil, they are then, for a large part of the oil purchased, selling it on the free market for large profits”. wrote Trump Monday morning.
“They do not care about the number of people in Ukraine killed by the Russian war machine. For this reason, I will substantially raise the price paid by India in the United States,” he added.
President Trump’s radical rates are expected to come into force later this week. Last week, Trump announced a 25% tariff on India goods, plus an additional import tax due to the purchase of Russian oil by the country.
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