ByAntonio Pequeño IV

ByAntonio Pequeño IV,

Forbes Staff.

President Donald Trump will raise the tariff rate against India over the country’s purchases of Russian oil, following up on a previous threat he made in July as India has indicated it will continue purchasing discounted oil from Russia.

Trump said he will raise India’s 25% tariff rate “substantially,” accusing Indian officials of not caring about “how many people in Ukraine are being killed by the Russian War Machine.”