Trump threatens higher tariffs on India over Russian oil purchases as trade talks stall

US President Donald Trump has warned that Washington could quickly raise tariffs on India if New Delhi fails to curb its purchases of Russian oil, escalating pressure amid unresolved trade negotiations. Speaking aboard Air Force One, Trump said tariffs remain a key leverage point, despite describing Prime Minister Narendra Modi as a “good guy.”

The warning comes after the US doubled tariffs on Indian goods to 50% last year, partly over India’s Russian crude imports. Indian markets reacted sharply, with IT stocks falling on concerns of further trade friction. While Indian refiners have reduced Russian oil purchases, experts say New Delhi remains in a “strategic grey zone,” risking deeper export losses as US pressure intensifies.