President Trump vowed Monday to “substantially” jack up the US tariff on imports from India due to New Delhi’s continued purchase of Russian oil as Moscow’s invasion of Ukraine grinds

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.

US President Donald Trump’s tariff shock on India is complicating the central bank’s interest rate decision Wednesday, with some economists bringing forward their expectations for easing.