President Trump has hit India with an additional 25% tariff due to India’s purchase of Russian oil. The US President threatened India with higher tariffs earlier this week, to which India’s Prime Minister Narendra Modi said that it was “unjustified” and also called out the US for its double standard over Russia.
In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine.
“They’re fueling the war machine. And if they’re going to do that, then I’m not going to be happy,” Trump said.
In the early days of trade negotiations, relations between the US and India appeared more friendly with both sides saying they will reach a deal within days. However, over recent months things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agriculture products.
As a result, a trade war seems to have developed between the two sides and now with this additional 25% tariff gift from Trump to Modi the two seem further away from reaching an agreement than ever before.
