Winning Bizness Desk
Mumbai.US President Donald Trump has said that he will impose even higher tariffs on Indian goods within 24 hours. In a phone interview with CNBC, Trump said India is not a good business partner for the US. He claimed India already has some of the highest tariffs in the world, yet no one talks about it openly. Trump added that while India benefits greatly from trade with the US, the US gains very little in return.
Trump to raise tariffs from August 7
Last week, Trump had already announced a 25 percent tariff on Indian imports, which will come into effect on August 7, 2025. Now he plans to increase it even further. He said the trade relationship between the US and India is unfair, and India is indirectly helping Russia by continuing to buy large quantities of oil from it. He believes this is fueling Russia’s war machine against Ukraine, and the US must take strong action.
India’s oil imports from Russia have surged
Before the Ukraine war began, India imported only 0.2 percent of its oil from Russia. By May 2023, that figure had reached 45 percent. From January to July 2025, India has been buying 1.78 million barrels of oil from Russia every day. Over the past two years, India has spent more than 130 billion dollars on Russian oil. India refines this cheap oil and exports it to other countries, while also meeting its domestic needs.
India hits back at US and EU
After Trump’s Monday warning, India responded sharply for the first time by naming the US and EU. India said that if buying oil from Russia is wrong, then Western nations should look at their own imports. India pointed out that the US still buys uranium, palladium, fertilizers, and chemicals from Russia. Similarly, the European Union continues to do large-scale trade with Russia in energy, steel, chemicals, and machinery.
India defends its national interest
India’s foreign ministry said that targeting India is unfair and illogical. India said it would take every necessary step to protect its national interest and energy security. Foreign Minister S Jaishankar also said in a recent speech that no single country can dominate the world order anymore. India’s oil imports aim to provide affordable energy to Indian citizens, and other nations are doing the same for their needs.
China, EU still doing major trade with Russia
Despite targeting India, Trump has not made similar remarks about China, which is Russia’s largest oil buyer. From December 2022 to June 2025, China bought 47 percent of Russia’s total oil exports. India accounted for 38 percent, while the EU and Turkey bought around 6 percent each. In 2024, the US itself imported goods worth 3 billion dollars from Russia. In the first five months of 2025 alone, that number already reached 2.09 billion dollars.
7 Key Points in a Nutshell
- Trump said India is not a fair trade partner and threatened higher tariffs.
- A 25% tariff on Indian goods will start from August 7, with more increases expected.
- Trump criticized India for buying cheap Russian oil, calling it support for Russia’s war.
- India now imports over 1.7 million barrels of oil daily from Russia.
- India hit back, saying the US and EU still import many goods from Russia.
- India stressed its oil imports are necessary for national interest and affordable energy.
- China buys more Russian oil than India, but Trump has not criticized Beijing.
